Multiple choice

What is the correct enty in the books of Accounts for the following transaction? Purchased goods worth Rs. 60,000 from M/s Rameshlal & Co. @ 10% Trade discount & @ 3% Cash discount. Half amount is paid by cheque.

  1. Dr. Purchase a/c 54,000 Cr. Bank a/c 52,380 Cr. Discount rec. a/c 1620

  2. Dr. Purchase a/c 27000 Cr. Bank a/c 25,380 Cr. Discount rec. a/c 1620

  3. Dr. Purchase a/c 54,000 Cr. Bank a/c 26,190 Cr. M/s Rameshlal & Co. 27,000 Cr. Discount rec. a/c 810

  4. Dr. Purchase a/c 54,000 Cr. Bank a/c 27,000 Cr. M/s Rameshlal & Co. 27,000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Half amount is paid on credit and half amount on cash. Cash discount calculated on Rs. 27,000 @ 3%.

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