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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 / b.narasimha rao
PURCHASE A/C DR 100
TO CREDITOR A/C 100
CREDITOR A/C DR 20
TO PURCHASE RETURN A/C 20
CASH A/C DR 80
TO SALES A/C 80
COMMISION A/C DR 04
CASH A/C 04
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