Q. 8. Give Journal Entries for the following transactions in the


Q. 8. Give Journal Entries for the following transactions in the books of Raja Ram:
2005March 3 Bought goods for cash of the list price of 580,000 at 10% trade discount and2% cash discount5 Sold goods for cash of the list price of 1,00,000 at 15% trade discount and 3%cash discount.6 Sold goods to Nagpal of the list price of 50,000 at 20% trade discount.8 Nagpal returned one-fourth of the above goods.10 Nagpal settled the account by paying cash under a discount of 5%.[Ans. Total 52,37,000; Cash Discount on March 3 31,800; on March 5 32,550and on March 10 1,500.]​


Leave a Reply

Your email address will not be published.