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On goods purchases of Rs.2,00,000 got trade discount of
20,000 from supplier, and the amounts paid to supplier is
1,00,000 in cash and RS.1,00,000 in check on the same day,
what would be the general ledger entry ?
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Answer Posted / ramesh.ch
1.trade discount which is allowed to customers to increase
the sales
2.trade discount will not effect the expected profit
3. trade discount should not will effect the books of
account
purchase A/c........Dr 1,80,000
To cashA/c 80,000
To bankA/c 1,00,000
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