Supplied goods costing RS. 600 to mohan and
issued invoice at 10%
above cost and allowed
5% discount.

Dr Mohan account 627

Cr Sales 627

Explanation:

Preparation of Journal entry

If the amount of RS. 600 is the goods costing that was supplied to mohan in which the issued invoice is 10% above cost with a 5% discounts the First step will be to calculate the Invoice price.

Calculation of the invoice price

Invoice price=[600+10%*600)+[5%*(600+10%*600)]

Invoice price=(600+60)-[5%*(600+60)]

Invoice price=660-(5%*660)

Invoice price=660-33

Invoice price=627

Now let prepare the Journal entry

Dr Mohan account 627

Cr Sales 627

(Being to record good sold to Mohan)

lives by a moral and ethical code

answer; to open a new transaction, the user should type the code/0 along with a new transaction code, when done with that the user should press enter to open the transaction; good luck;