Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

what is the journal entry for purchase bill discount

Answer Posted / navjeet singh

Entry:

Purchase A/c Dr.
To Discount Received A/c
To Cash A/c

*Debit is all expenses & losses implies purchase is debited.
*Credit is all gains & incomes implies discount received is credited.
*Credit what goes out implies cash is credited.

Is This Answer Correct ?    4 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Expand--------AA

2177


what is the difference between cash flow and funds flow

2227


What is account

2229


What is the working formula for Working Capital Turnover

2139


What part can management policy play in the analysis of cost behaviour?

2076


how to download online - old ECR CHALLANS

4903


In IGATE, 2 yrs bond for fresher and reverent experience 1 year bond. First z essay writing. “Unforgettable movement ur life” Tiz in ITPL IGATE stopping

6032


commisiion recieved journal entry and receipt required

1483


Hi, I am preparing for Junior Accounts Officers test- APTRANSCO. Can any one suggest the model paper / Books available? john kadapa

2097


AN ESTIMATE OF ASSETS AND LIABILITIES ON AGIVEN DATE

2212


Short Answer on ______Transaction

2141


Breif notes about accounting standards

3093


helo sir, i want to know the writen exam pattern for finance and accounts ang general apptitude test of ongc.

2246


what is Contra Asset?

13728


I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK

2125