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What will be the journal entry …

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What will be the journal entry of this tranaction.. 1)Purchase goods from arun Rs12,000 2)Settled Arun's account in full after deducting 5% for cash discount.

Posted by Shubham Soni 7 years, 7 months ago

CBSE > Class 11 > Accountancy

1 answers

Tejas Dingiya 7 years, 7 months ago

Answer for the above mentioned question would be: (1) purchases A/C. Dr. 12,000 To. Arun. A/C. 12000 (2) Arun A/C. Dr. 12,000 To cash A/C. 11400 To discount received. A/C. 600

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