Discount allowed will be written on____?
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12
Answer:
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Explanation:
Discount allowed acts as an additional expense for the business and it is shown on the debit side of a profit and loss account. Trade discount is not shown in the main financial statements, however, cash discount and other types of discounts are supposed to be recorded in the books of accounts.
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5
Answer:
the debit side of the cash book
Explanation:
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