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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 / jyoti
Purchase A/c Dr. 9025
Discount Received A/c Dr. 425
To Cash A/c 9500
NOTE:- Trade discount is not shown in books ,Only amount of trade discount is deducted out of total amt.
| Is This Answer Correct ? | 4 Yes | 11 No |
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