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goods sold to mr x of rs5000/-,out of that we give him
discount allowed of rs 500/-,and we take setting charges of
rs1000/-.so what will be the entry?
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Answer / satish(sasa)
cash a/c-------------------Dr, 5500
discount allowed a/c-------Dr, 500
To,sales a/c 5000
To,setting charges a/c. 1000
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / pradip
party A/C ...... Dr 5500
Discount A/C ..... Dr 500
to sales A/C 5000
to Setting charges 1000
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / deepak thukral
Party a/c Dr (5000+1000) 6000
Discount a/c Dr 500
to sales a/c 5500
to setting charges 1000
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / jai
balance sheet
--------------
mr. x ledger
-------------
cash 5000.oo
discount 500.00
-------------------------------------------
dr. 4500.00
setting charges 1000.00
-------------------------------------------
clossing bal. 5500.00
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / tarun gupta
it depend of the product we can include the 1000 in goods value as well. so the entry is
Mr. X dr. 5500/-
Discount allowed Dr. 500/-
To sales account 6000/-
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sunita
Sales A/c 5000
To discount 500
To Party A/c 4500
setting charges dr 1000
party a/c 1000
| Is This Answer Correct ? | 1 Yes | 5 No |
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