Accountancy, asked by ajaytak8084, 16 hours ago

Discount is ___ entered in a cash book

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Answered by oreogaming658

Answer:

That is on balancing the cash book, the discount columns are added up. The total of Discount Allowed (Dr) column is then posted to debit of Discount/Discount Allowed Account and the total of discount received (Cr.) column is posted to the credit of Discount/Discount Received Account in the ledger.

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