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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?

Answer Posted / jijesh

purchases a/c dr 100
to cash 100
(being purchased goods for cash)
cash a/c dr 80
to sales 80
(being assumes that sales is made )
cash a/c dr 20
to purchase return 20
(being rs 20 worth goods returned)
commission paid a/c dr 4
to cash 4
(being commission paid for the staff who sold goods worth
rs 80)

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