XYZ Ltd sold goods of MRP 20,000 to Nitish at 20% trade discount. The terms of credit

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XYZ Ltd sold goods of MRP ₹20,000 to Nitish at 20% trade discount. The terms of credit sales were ‘2/14 net 30’. Nitish makes the payment within 10 days. Show the journal entry for this transaction, in the books of XYZ Ltd and books of Nitish.

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Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

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Question Posted: Dec 19, 2023 06:17 AM

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XYZ Ltd sold goods of MRP 20,000 to Nitish at 20% trade discount. The terms of credit

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Books of XYZ Ltd 1 For recording sales Nitishs ac Dr To Sal...View the full answer

Financial Accounting

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