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What is the entry for Discount Received? & What is the
entry for discount paid?
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Answer Posted / ansar
discount received like we purchase any any they give any discout like discount receive so for entry
received the material dr 600
discount received cr 100
cash cr 500
discount allowed we sale any goods to customer ( we allowed some discount)
received the cash or bank dr 500
discount allowed dr 100 (loss) also debit
sale cr 600
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