false

Question

Sold goods to Malik costing 20,000 at 25% above cost less trade discount of 10% plus CGST and SGST @ 6% Can you give the journal entry

Dhara · Answer

Cheq ur dm

A · Answer

Not sure about Second entry because money is not received so we have to transfer it to government or not

Vanshika · Answer

Malik (22500+1350+1350) = [25,200] To Sales (25,000+ 25%)-10% = [22,500] To Output cgst (22,500×6%) = [1350] To Output sgst [1350] I'm not sure, but I think this would be the right way

A · Answer

Explanation:- SP 25000 CGST nd SGST 750+750(25000×0.06) as tax is calculated on orignal price nd not discounted price

A · Answer

By SGST dr 750 By CGST 750 To Bank 1500

A · Answer

By Malik a/c dr. 24000 By trade discount 2500 To Sales a/c 25000 To CGST a/c 750 To SGST a/c 750

false

6 answers

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