Journal Entry for Goods Sold to Roma

The journal entry for goods sold to Roma for 5000 at 20% trade discount and 3% cash discount, with half of the payment received immediately, can be broken down into the following headings and HTML bullet points:

Date and Account Headings:
- Date: [Insert date of transaction]
- Account Headings:
- Sales Account
- Trade Discount Account
- Cash Discount Account
- Accounts Receivable Account

Debit and Credit Entries:
- Debit Sales Account for the full amount of goods sold:
- Sales Account Debit 5000
- Credit Trade Discount Account for the discount given:
- Trade Discount Account Credit 1000
- Credit Cash Discount Account for the discount given:
- Cash Discount Account Credit 140
- Debit Accounts Receivable Account for half of the payment received immediately:
- Accounts Receivable Account Debit 2430

Explanation:
- The Sales Account is debited for the full amount of goods sold, which is 5000.
- The Trade Discount Account is credited for the discount given to Roma, which is 20% of 5000 or 1000.
- The Cash Discount Account is credited for the discount given to Roma for paying immediately, which is 3% of 5000 or 140.
- The Accounts Receivable Account is debited for half of the payment received immediately, which is 2430. The remaining half will be recorded in a future journal entry when received.

Overall, this journal entry reflects the sale of goods to Roma with discounts given and half of the payment received immediately.

Cash A/C.Dr1940
Discount Allowed A/C..Dr 60
RomaDr2000
To sales A/C. 4000