Please tell me entry for following bill.
Goods 500
Disc- 10% 50
----------------
Bill Amt 450
Answer Posted / amit garde
if goods are purchased then entry should be
by goods a/c ... dr 500
to cash a/c 450
to discount a/c 50
OR
IF goods are sold then entry should be
by cash a/c ... dr 450
by discount a/c... dr 50
to goods a/c 500
Is This Answer Correct ? | 6 Yes | 2 No |
Post New Answer View All Answers
Explain me what is general ledger account?
what is the impact of bank garantee of rs 100000 on cash flow statement which has been expired...& impact on bank reconcilation statement
What is use of statistics in accounting?
What is the use of accounting?
Tell us what do you believe should be an important quality of an account executive?
Tell me an example of a tough decision that you had to make?
What is the definition of accounting?
bookkeeping, and accountancy,purchase procedure , Educational institutions ;, secretarial practices, Administratire and Academic rules and regulations in Government offices, Academic institutional , computer skils. etc
Ledger Enteries
Which kind of transactions are not recorded in the books of account?
Do you know what is a cpa?
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
saji become insolvant -what is journal entry
what is lease accounting?? please explain me....
Tell me what steps would you take to increase revenue for this company?