Commenced business with cash 50,000; goods …
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Commenced business with cash 50,000; goods 30,000 and furniture ? 20,000 Bought goods from Amit of list price ? 30,000 less trade
discount 15%.
Returned defective goods to Amit of the list price 25,000 Settled the account of Amit by paying cash under discount of 2%.
Dec. 30
Dec. 31
U 9(a). Record
2019
Jan. 1
Jan. 4
Jan. 7
Jan. 10
Jan. 15 Sold goods to Mohan of the list price 20,000 less 15% trade
discount and 2% cash discount. Mohan paid 40% price of goods promptly.
Mohan returned goods of list price 3,000.
Mohan paid ? 7,500 in full settlement of his account. Paid freight 500;
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