Accountancy, asked by khushidama018, 2 months ago

Discount Received shall be recorded on _____.

Answers

Answered by Aarianna

Answer:

Discount received acts as a gain for the business and is shown on the credit 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 shown in books of accounts.

Explanation:

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Answered by svptarun23

Answer:

Discount Received is a column found on the credit side of the Cash Book. When a creditor is paid and the business receives a discount the discount received and is recorded in the discount received column and the corresponding entry appears as a debit in the creditor's account.

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