Question

difference between discount received and discount allowed

Answer 1

A discount allowed is when the seller of goods or services grants a payment discount to a buyer. ... A discount received is the reverse situation, where the buyer of goods or services is granted a discount by the seller. The examples just noted for a discount allowed also apply to a discount received.

Answer 2

Discount Allowed vs Discount Received

Discount allowed is a when the seller grants a payment discount to a buyer.
Discount received is when a customer is granted a discount by the supplier