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 / hitesh jain
trade discount is given on the bulk purchase of the goods .
the entry for trade dist. is never passed in the books of
a/c.cash dist. is given for prompt payment of cash
the entry in the books of the purchaser :
Purchase A/C Dr. 9500
Discount A/C 475
Cash/Bank A/c 9025
| Is This Answer Correct ? | 21 Yes | 12 No |
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