Accountancy, asked by julien2, 5 months ago

please follow me im new......plus free points........i have a question too......why are trade discounts not recorded?

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Answered by Anonymous

Answer:

Trade Discount is allowed as a general discount to all the customers to promote the sales. Trade discount is allowed on the list price and sales is done on the basis of net price i.e. list price minus trade discount. Hence trade discount is not recorded in books of account.

Explanation:

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