“Fixed Deposit A/c Mor 20 Ee ankle ‘Amount transferred from current ace Seposit account) a Opening firm starts its new books in the b NRT ave to bc caried forw, 000; Bank Balance %2 Creditors 20,000,oKs OF ORIGINAL Working Note: (1) Cost of goods Add : 20% of %1,00,000 Less: Trade Discount Cash Sales : 40% of %1,08,000 Less : Cash Discount (5% of 743,200) Amount Received Credit Sales : 60% of 1,08,000 Recardinn af BankIGINAL {00,000 on terms 10% trade discount received within fifteen days, 80% paym« March 31 Cash Ale | To Sudha | Receipt of 30% of the remain Mach for 21,00,000 at 20% trade discount and 10% cash ™ Bcicereset within en days. She paid half the amount oi 26th and 30% of the remainder on March 31st. * Itis assumed that the cheque is - Amount — Amount Gr. Wo rking Notes : March 1 Invoice price of goods Less : Trade Discount Less : Cash Discountg Note Cost of goods Add : 20% of %1,00,000 Less : Trade Discount : €1,20,000 x + Cash Sales : 40% of Less : Cash Discount Amount Received Credit Sales : 60% of €1,08,000 = Recording of Rant:21,00,000 on terms e aad cre within fifteen days. 80% pay mer discoun i ‘on March 18th by cheque. . . “Mach for €1,00,000 a 20% trade discount ard 10% cash Be recanted win en days. She paid half the amount on 26th and 30% of the remainder on March 31st. SOLUTION : | Amount Amon Ge. March 31 Cash A/c To Sudha (Receipt of 30% of the remai * tis assumed that the cheque is Working Notes March 1 Invoice price o Less : Trade Discount Less : Cash Discount @ee le i ee tz over Mt kaso fo Pi Mako ps 20 ec dp toe Ae Recon SOLOW: {URNA OF PARTAP RAI & SONS+ ing[a Tal €2.97000: Ca anata ach 0 ion (9. Ps Joa ens tay[hs Tul €405.00) . (5 Ps rl nesses of Har Shankarmsctions inthe Juma of Naresh & Co,et 9 } reeras eet enorme ae a mS po 2000.75 willbe 20.000 “gett wha SOMES a “ coped inane ea A cesta oe an Porte ate Ga wo se hae NC wa