1) XYZ Ltd bought goods for Rs.200000 from ABC Ltd. The co
gave 10% discount. give journal entries in the books of ABC
Ltd and XYZ Ltd.
2) Goods bought for Rs.400000. While transporting goods
destroyed. Insurance co agreed to pay 75%. post journal
entries.
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Answer Posted / shoukath ali k.p
jounel entry
purchase A/C Dr 200000
To ABC Ltd 180000
To discount recived 20000
( Being purchase goods Rs:200000/- from ABC ltd agst bil
no ; and discount recived Rs;20000/-)
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