Accountancy, asked by Uiriuf8356, 10 months ago

Settlement with ram at 2% discount

Answers

Answered by usha90152123455

0

Discounts are common in both B2B and B2C transactions to push both credit and cash sales, they are usually given in lieu of some consideration which can be prompt payments, trade practices, recoveries, etc. While posting a journal entry for discount received “Discount Received Account” is credited.

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