goods sold to Satya Prakash costing ₹20,000 at a profit of 20% on sales less, 10% trade discount and paid cartage of rupees hundred (to be charged from the customer).
What will be the journal entry of these transactions and with working note????
please give correct answer ...
What will be the journal entry of these transactions and with working note????
please give correct answer ...
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Answer:
Satya Prakash. Dr. 21700
To sales a/c. 21600
To carriage outward. 100
Explanation:
Working note
cost of goods =. 20000
(+) profit 20% =. 4000
total =. 24000
(-) trade discount = 2400
( 10%).
= 21600
as carriage charged from customer so it is debited to his account
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