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What will be JV of if gets discount received from my
vendors and as well as I allowed discount to my customer?
What will be the journal entry in these both cases. Pls.
give the answer, it's urgent.
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Answer Posted / s k gupta
In the case of discount received from my vendors
Vendors A/c Dr.
To Discount Received A/c Cr.
If I allow to my Customer Than---
Discount Allowed A/c Dr.
To Customer A/c Cr.
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