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 / yash
in case of trade discount
purchase a/c dr.........100000
to, discount a/c................5000
to, cash a/c...................95000
in case of cash discount
purchase a/c dr............95000
to, cash a/c....................95000
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i am working in a company as wholesale in saudi arabia.i am one of the new.we are supplying to some hyper market. they will issue the money as cheque and they will send the cheque amount and invoice details also.then how can i reconcile our statement with use of that cheque details
What is mean by error of submission? can u plz provide notes on this?
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