i have purchase goods for Rs.100 and company say you sell
this goods for Rs. 80 and raised a debit note for diffrence
amount and he fix 5 % commision on sales value what is
journal entry passed in tell with narration?
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Answer Posted / ospanwar
Answer
purchases a/c dr 100
to Supplier a/c cr 100
(being purchased goods for cash)
cash a/c dr 76.00
Commision on sale Dr. 4.00
to sales cr 80
(being the sales is made in cash )
Supplier a/c dr 20
to purchasea/c cr 20
(being the debit note issued fo supplier)
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