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Prepare Journal entries for following for 2022:- March 1:- Purchase goods from David worth $100,000 at 20% trade discount and 5% cash discount. Paid full
Prepare Journal entries for following for 2022:- March 1:- Purchase goods from David worth $100,000 at 20% trade discount and 5% cash discount. Paid full amount at time of purchase itself. March 4:- Sold goods to Adwin for $100,000 at 10% trade discount and 5% cash discount if payment is received within fifteen days . 80% of payment is received on March 16th by cheque..
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