Accountancy, asked by kir1822000, 1 year ago

Who to ledger posting to discount

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Answered by SmileQueen
0
sales discount and purchases discounttrade discountsdiscount on (long-term) liabilities

Among these discounts, only trade discounts are not recorded in the accounting books. Both the seller and the buyer of the bulk inventories record their respective transaction amounts net of the discount given and received, respectively.

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