Interested to Buy Any Domain ? << Click Here >> for more details...
What is the entry for Discount Received? & What is the
entry for discount paid?
- 13 Answers
- 66420 Views
- Azizi Bank, i4 Mobiles, WNS, I also Faced
- E-Mail Answers
Answer Posted / sajeer
mr pradeepkumar u r wrong.if u dont know about the basic
of accounts, pls do not post answer like this.this will be
misunderstood by many biginners who looks this site.
discount recieved is an income so it should be credited.
discount allowed is an exp so it should be debited
so here
discount received:
party(creditors) a/c......dr
to discount received
to cash/bank
DISCOUNT ALLWED
CASH/BANK A/C...............DR
DISCOUNT ALLOWED A/C.........DR
TO PARTY
| Is This Answer Correct ? | 130 Yes | 10 No |
Post New Answer View All Answers
Do you know the term account payable?
Can CPF share given by govt. added in the Financial gross salary while calculating Total gross salary at the end of Financial year.For eg: My gross salary is Rs.X during a Fin. year & govt share of CPF is Y then Total Fin. Year gross salary is =X+Y,is it correct?
What is Bank Reconciliation Statement? How to calliculate in tally erp9.0?
Did you use accounting applications at your previous companies or prefer working manually??
What is the importance of accounting standards?
Journalise- opened a saving a/c with S.B.I. ?
In which ways is math used in accounting
How to make a entry in tally for Land & Building Purchased for RS.1,65,00,000/-(Total Consideration)Paid Installment wise as 30 lakh,10 lakh,20 lakh & 1,30,87,500
all ques. related to accounts?
Where should tds received should show in balance sheet?
Tell me what does the investment of personal assets by the owner will do?
One car company raised an invoice of 30k to its customer, which includes car's price and one year service price of 1600 (cost). They work on 25% margin. How much amount will go to Income statement and B/S?
When we received payment from creditors
Can u please send me a set of accounting base questoin with answer,genraly ask by interviewer?
what are the charecteristics of cost accounting financial accounting managment accounting payroll accounting environmental accounting h r accounting forensic accounting inflation accounting?
