Where is we show Discount Received in which head?

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Where is we show Discount Received in which head?..

Discount Recevied is an Income due to immediate payment of
a sale or a credit sale.Discount is a Nominal Account and
thus posted in P&L account credit side under Discount
Recevied head.

Is This Answer Correct ?

24 Yes

5 No

Where is we show Discount Received in which head?..

Answer / vjiay

discount received under indirect incomes

Is This Answer Correct ?

19 Yes

2 No

Where is we show Discount Received in which head?..

Answer / manohar

discount received assuming it is not cash discount is
credited to the P&l as income. However, depending upon the
nature of discount it can either be reduced from the cost
of the purchases or treted as other income. for example
discounts received by a retailer of certain goods like
electrinic items or beaverages like coca cola should go to
reduce the cost of purchases in order to reflect the true
cost goods sold.

Is This Answer Correct ?

3 Yes

3 No

Where is we show Discount Received in which head?..

Answer / muzammil

we discount received in p&l account
with discount received head

Is This Answer Correct ?

6 Yes

12 No

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