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What is the entry for Discount Received? & What is the
entry for discount paid?
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Answer Posted / pradeep kumar
WHEN DISCOUNT RECIEVED
BANK/CASH A/C DR.
DISCOUNT A/C DR.
TO PARTY A/C
DISCOUNT PAID
PARTY A/C DR.
TO CASH/BANK
TO DISCOUNT A/C
| Is This Answer Correct ? | 42 Yes | 103 No |
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Opening stock 17499565 purchses 89693855 expanditure 1735800 deprciation 223309 patner salary 300000 interst paod 937500 provisions 119265 sales 91600120.adjustment 1 gross profit is 6.72percentage on sales.2.net profit is 3.10 percent on sales
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