Where does discount received stand in trial balance ( debit balance or credit balance)?
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Debit side
Discounts allowed' to customers reduce the actual income received and will reduce the profit of the business. They are therefore an expense of the business so would go on the debit side of the trial balance.
Discounts allowed' to customers reduce the actual income received and will reduce the profit of the business. They are therefore an expense of the business so would go on the debit side of the trial balance.
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