Accountancy, asked by janwwi, 1 year ago

how is discount allowed or received is treated in 2 column cash book

Answers

Answered by FemSam3362
2
Discount allowed a/c is always Debited whereas Discount recieved is always Credited. Cash discount should be deducted from the amount before recording it. If the payment / reciept is made in cash, discount should be deducted and posted in the cash coloumn else if it is made in cheque, discount after deducting should be posted in bank coloumn.

FemSam3362: Hope this helps u.
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