Ravi Bought goods from Ranjan at `Rs 10,000` at `5%` GST and `10%` cash discount. Calculate cash discount​

(Journal Entries Involving Cash Discount). Pass the Journal entries for the following transactions: (i) Purchased goods from Sanjiv of Rs. 40,000 plus IGST @ 18% at 10% Trade Discount and 2.5% Cash Discount. Paid amount at the time of purches itself. (ii) Purchased goods from Vijay of Rs. 40,000 plus IGST @ 18% at 10% Trade Discount and 3% Cash Discount. Half of the amount paid at the time of purchase. (iii) Sold goods to Anil for Rs. 20,000 plus CGST and SGST @ 9% each, allowed him 10% Trade Discount and 3% Cash Discount. Received half of the amount by cash and balance half by cheque immediately. (iv) Sold goods to Ajay for Rs. 50,000 plus CGST and SGST @ 9% each allowing 10% Trade Discount and 2% Cash Discount. Half of the amount received by cheque immediately. (v) Sold goods costing Rs. 40,000 to Anil against a currect dated cheque at a profit of 25% on cost less 20% trade discount plus IGST @ 18% . Cash discount is allowed @ 2% .

Record the following transactions in Journal in the books of Shyam & Co., Delhi: (i) Received cash from Ram of Delhi for a bad debt written off last year Rs. 10,000. (ii) Paid in cash Rs. 9,800 to Sohan of Delhi on his account for Rs. 10,000 in settlement. (iii) Received Rs. 9,750 from Hari in full settlement of his account for Rs. 10,000. (iv) Bought goods at the list price of Rs. 25,000 from Mohan, Meerut (UP) less 20% trade discount and 2% cash discount and paid 40% by cheque. (v) Sold goods to Rakesh of Delhi at the list price of Rs. 50,000,less 20% trade discount of 2% cash discount and paid 50% by cheque. (vi) Sold goods to James of Kolkata for Rs. 10,000, allowing him a trade discount of 5% and a cash discount of 10% . CGST and SGST is levied @ 9% each on intra-state purchase and sale of goods. IGST is levied @ 18% on inter-state purchase and sale of goods.

Sold goods for cash of the list price of Rs 8,000 at 10% trade discount and 3% cash discount. Posting will be made in Discount A/c:

Journalise the following transactions in the books of M/s. R.K. & Co.: (i) Purchased goods of list price of Rs. 20,000 form Vishal at 20% trade discount against cheque payment. (ii) Purchased goods of list price of Rs. 20, 000 from Naman at 15% trade discount against cash. (iii) Purchased goods of list price of Rs. 30,000 from Amrit at 20% trade discount. (iv) Purchased goods of list price of Rs. 40,000 for Rs. 35,000 for cash. (v) Goods returned of list price of Rs. 10,000 purchased from Amrit. (vi) Sold goods to Parul of list price of Rs. 40,000 at 10% trade discount against cheque payment. (vii) Sold goods to Aman of list price of Rs. 30,000 at 10% trade discount against cash. (viii) Sold goods to Pawan of list price of Rs. 20,000 at 10% trade discount. (ix) Sold goods to Yamini of list price of Rs. 25,000 for Rs. 23,000. (x) Sold goods costing Rs. 10,000 at cost plus 20% less 10% trade discount to Bhupesh. (xi) Sold goods purchased at list price of Rs. 50,000 less 15% . trade discount sold at a profit of 25% less 10% trade discount against cheque. (xii) Aman returned goods of list price of Rs. 10,000 sold to him at 10% trade discount.

Pass Journal entry for sale of goods by Rahul, Delhi to Anish, Delhi for Rs. 10,000 less 10% Trade Discount and 2% Cash Discount. Assume payment is received at the time of sale. CGST and SGST is levied @ 6% each.

A sells a scooter priced Rs 36,000. He gives a discount of 8% on the first Rs 20,000 and 5% on the next Rs 10,000. How much discount can he affored on the remaining Rs 6000 if he is to get as much as 7% discount is allowed on the total.

Journalise the following transactions in the boods of Rajan of Delhi: (i) Sold goods to Krishna of Delhi at the list price Rs. 20,000 less trade discount 10% add CGST and SGST @ 9% each., and allowed cash discount 5% , He paid the amount immediately. (ii) Supplied goods costing Rs, 6,000 to Mohan of Kolkata issued invoice at 10% abvove cost less 5% trade discount plus IGST @ 18% . (iii) Goods valued at Rs. 2,500 distributed from stock as samples, as part of an advertising campaign. These goods were purchased paying CGST and SGST @ 9% each. (iv) Anjan, a customer, to whom goods were sold, was allowed rebate of Rs 2, 000 because they were of poor quality. These goods were sold charging CGST and SGST @ 9% each. (v) Sold goods costing Rs 1,00,000 to Anil of Delhi at a profit of 20% on sales less 20% Trade Discount plus CGST and SGST @ 9% each and paid cartage Rs. 250 (Not to be charged from customer).