Sales day book

Identify the book of prime entry to post credit sales.

• Cash book

• sales day book

• purchases day book

• sales returns day book

Identify the double entry for credit sales.

• Cash Dr / Sales Cr

• Bank Dr/ Sales Cr

• Trade receivables Dr/ Sales Cr

Sold goods on credit to Allen $2,000. Trade discount 10%.

Identify the trade discount.

• $200

• $100

• $1,800

Sold goods on credit to Allen $2,000. Trade discount 10%.

Identify the amount after deducting the trade discount.

• $200

• $100

• $1,800

Sold goods on credit to Kelly $1,000. Trade discount 20%.

Identify the trade discount.

• $200

• $100

• $1,800

Sold goods on credit to Kelly $1,000. Trade discount 20%.

Identify the amount after deducting the trade discount.

• $200

• $100

• $800

Trade discount is provided for the purpose of ....

• bulk - buying

• prompt payment