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Journal Entry

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(Querist)
18 August 2016 List price of Goods is Rs.5000 sold at 6% trade discount and 1% cash discount. 60% of the amount is paid in cash.
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Kaushik Joshi

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Kaushik Joshi (Expert)
18 August 2016 The journal entry would be as follows: Cash Account.... Dr. 2791.80 Debtors Account.. Dr 1880.00 Cash discount..Dr. 28.20 To Sales. 4700

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