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.

Answer Posted / seema

Jv of getting discount from the vendor

Vendor's A/c Dr

To Discount & Schemes A/c.

JV of discount allowed to the customer

Discount & Schemes A/c Dr.

To Customer A/c.

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