Commerce Exam > Commerce Questions > Good purchase of list price of rs 25000 from ...
Start Learning for Free
Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque?
Most Upvoted Answer
Good purchase of list price of rs 25000 from mayank less 20% trade dis...
Purchase a/c. Dr. 20,000
To bank a/c. 7600
To discount received a/c. 400
To Mayank. 12000
(Being good purchase from
Mayank at 20% trade discount
and 5% cash discount and 40%
amt psid by cheque )
Working notes
Invoice price of goods. 25000
less : trade discount @10% 5000
20000
Cash paid : 40% of 20000. 8000
less : cash discount @5% 400
7600
Credit tranction (60% of 20000) 12000
To bank a/c. 7600
To discount received a/c. 400
To Mayank. 12000
(Being good purchase from
Mayank at 20% trade discount
and 5% cash discount and 40%
amt psid by cheque )
Working notes
Invoice price of goods. 25000
less : trade discount @10% 5000
20000
Cash paid : 40% of 20000. 8000
less : cash discount @5% 400
7600
Credit tranction (60% of 20000) 12000
Community Answer
Good purchase of list price of rs 25000 from mayank less 20% trade dis...
Calculation of Discount and Amount
The list price of the product is Rs 25,000. The trade discount offered by Mayank is 20%, which reduces the price to Rs 20,000. Additionally, a cash discount of 5% is offered on the final price, which is Rs 20,000. Thus, the final amount after both discounts is applied is Rs 19,000.
Payment Method and Amount
The buyer decides to pay 40% of the total amount by a cheque. Therefore, the amount paid by cheque is 40% of Rs 19,000, which is Rs 7,600. The remaining amount to be paid is Rs 11,400.
Conclusion
In summary, the buyer purchases a product with a list price of Rs 25,000 at a discounted price of Rs 19,000 after both trade and cash discounts are applied. The buyer pays 40% of the total amount by cheque, which is Rs 7,600, and the remaining amount of Rs 11,400 must be paid by other means.
The list price of the product is Rs 25,000. The trade discount offered by Mayank is 20%, which reduces the price to Rs 20,000. Additionally, a cash discount of 5% is offered on the final price, which is Rs 20,000. Thus, the final amount after both discounts is applied is Rs 19,000.
Payment Method and Amount
The buyer decides to pay 40% of the total amount by a cheque. Therefore, the amount paid by cheque is 40% of Rs 19,000, which is Rs 7,600. The remaining amount to be paid is Rs 11,400.
Conclusion
In summary, the buyer purchases a product with a list price of Rs 25,000 at a discounted price of Rs 19,000 after both trade and cash discounts are applied. The buyer pays 40% of the total amount by cheque, which is Rs 7,600, and the remaining amount of Rs 11,400 must be paid by other means.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque?
Question Description
Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque?.
Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque?.
Solutions for Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? defined & explained in the simplest way possible. Besides giving the explanation of
Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque?, a detailed solution for Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? has been provided alongside types of Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? theory, EduRev gives you an
ample number of questions to practice Good purchase of list price of rs 25000 from mayank less 20% trade discount and 5% cash discount and paid 40% by cheque? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup