Accountancy, asked by brupam9777, 6 months ago

How to find the discount received in this journal entries

Answers

Answered by deepikaarya

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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