An account is a ‘T'shape format having two sides. Left hand side is known as Debit (Dr.) and right hand side is known as Credit (Cr.).
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Ashok purchased goods from Delhi Traders for ₹ 2,00,000. As per the, if Ashok made full payment within 21 days, he will get cash discount at 2.5%. Ashok paid ₹ 1,50,000 within the stipulated time. How much discount will he get?
The position of a businessman on 30th June 1994 was as follows :
Cash ₹ 5,000; Debtors ₹ 20,000; Machinery ₹ 60,000; Stock ₹ 25,000; Capital ₹ 75,000. Calculate his liabilities.