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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 / neer
1) purchases- dr 100
to Credotor 100
(being booked full puchases let say on 1april)
2) creditor - dr 20
to purchase return 20
(being return booked on let say 2 april)
3) debtor - dr 84
to Comission 4
to Sales 80
(being Assuming that amount of Commissiom is Charged From
Debtor)
| Is This Answer Correct ? | 3 Yes | 1 No |
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