Goods costing ₹ 32,000 were sold at a profit of 20% on sale price on credit. 40% of the amount was received at a cash discount of 10% . Cash A/C will be debited with:
Share
Goods costing ₹ 32,000 were sold at a profit of 20% on sale price on credit. 40% of the amount was received at a cash discount of 10% . Cash A/C will be debited with:
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Explanation:
Sale Price = Cost + Profit 20%
= 100000 + 20% of 100000
= 120000
Trade Discount = 10%
= 120000 - 12000 108000
Cash Discount = 4000
Final Cash A/c = 108000 - 4000
= 104000
104000
400