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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 / abhilash
purchase A/c dr 100
to Supplier A/c 100
(being credit purchase )
Buyer a/c dr 100
to Sales 100
(Being Sales )
commission on sales a/c dr 4
To Buyer 4
(Being commission paid on sales @ 5% on rs.80/-)
Discount A/c Dr 20
To Buyer 20
(Being Debit note issued to Buyer)
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