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What is the entry for Discount Received? & What is the
entry for discount paid?
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Answer Posted / khazi raza mohammed
Entry for discount received
Cash a/c Dr xxxx
to discount received xxxx
(credit all incomes and gains)
Entry for Discount paid,
Discount paid a/c Dr xxxx
to Cash xxxx
(Debit all expenses and losses)
nominal rule applies.
| Is This Answer Correct ? | 23 Yes | 5 No |
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