what is the journal entry for purchase bill discount
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Answer Posted / narasimha rao
YOU PURCHASE TV DISCOUNT RATE IS 10% COST IS 10000 WHEN
ENTRIES
PURCHASE A/C DR 10000
TO DISCOUNT ON PURCHAS A/C 1000
CASH A/C 9000
DISCOUNT ON PURCHASE IS INCOME SO INCOMES ARE ALWAYS
CRIDIT
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