Question

paid to prasad by cheque 2900 discount allowed 50 . is ka entry kaisa hoga any one​

Answer 1

Answer:

Before passing Journal Entry for Discount Allowed, we have to know about the meaning of discount and its type. I have explained the meaning of discount allowed in this article as follows:

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Meaning of Discount Allowed:

Example:

Journal Entries for Discount Allowed:

1. Discount Allowed and the net received amount or total due amount is given

2. Percentage of discount and the Total Due amount is given

3. Percentage of discount and the total Received amount is given

I hope fully answer