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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 / jitendra kumar mishra
Trade discount is given at the time of selling goods but
cash discount is given to collect balance quicly.Entry for
this transaction will be
Purchase A/C Dr. 9500
Discount A/C 475
Cash/Bank A/c 9025
| Is This Answer Correct ? | 26 Yes | 26 No |
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