Purchased from ABC Ltd. for amount worth 1,000,000. 60 days is the credit period but they say if payment is made within 15 days they will give a 10% discount. The owner then decided to transfer the amount after deducting the discount to ABC from the owner’s personal bank account. 5 days later there was a purchase return worth 100,000. What all entries will you pass for these transactions?

𝐆𝐞𝐭 𝐓𝐫𝐚𝐢𝐧𝐞𝐝! 𝐁𝐞 𝐂𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐭!!. 𝐆𝐞𝐭 𝐏𝐥𝐚𝐜𝐞𝐝!

Online & Offline mode available with Fast track & Regular batches and flexible time options.