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what is the difference between cash discount and trade
discount.
what is the journal entry for purchase of 100000 giving
(a) 5% trade discount
(b) 5% cash discount.
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Answer Posted / yash
in case of trade discount
purchase a/c dr.........100000
to, discount a/c................5000
to, cash a/c...................95000
in case of cash discount
purchase a/c dr............95000
to, cash a/c....................95000
| Is This Answer Correct ? | 69 Yes | 75 No |
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