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Leftfnc

The document shows journal entries for starting a business, purchasing goods with a trade discount, selling goods with a trade discount, purchasing goods at a trade discount, returning goods, and a sale on credit.

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Liv Fernandez
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7 views

Leftfnc

The document shows journal entries for starting a business, purchasing goods with a trade discount, selling goods with a trade discount, purchasing goods at a trade discount, returning goods, and a sale on credit.

Uploaded by

Liv Fernandez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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date Particulars 

lf Debit (rs) Credit (rs)

july

1 Cash a/c...dr 75000

To capital a/c 75000

(being business started)

3 Purchases a/c...dr 18000

To discount received a/c 900

To cash a/c 17100

(being goods purchased at 10% trade discount)

6 Cash a/c….dr 22562.5

Discount allowed a/c….dr 1187.5

To sales a/c 23750

(being sales proceeds made with 5% trade discount)

7 Purchases a/c...dr 23750

To rohit’s a/c 23750

(being purchases made at 5% trade discount)

9 Purchases return a/c..dr 2000

To purchases a/c 2000

(being goods returned)

12 Kajal’s a/c...dr 27000

To sales a/c 27000

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