Sale of Rs.10000, where in 50% is on credit and there 10%
discount on the immediete payment. Pass a journal entry for
this
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Answer Posted / vijayaraghavan
DR. CR.
SUNDRY DEBTORS A/C DR 5000
CASH A/C DR 4500
DISCOUNT A/C DR 500
TO SALES A/C 10000
| Is This Answer Correct ? | 114 Yes | 2 No |
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WHAT IS THE DEFINATIN OF IDENTICAL GOODS AND SIMILAR GOODS? WITH EXAMPLE?
A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500
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