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if goods purchased from x company for rs1000 in credit,out
of that 10% given discount for us what is the entry in
tally?
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Answer Posted / taruna
Purchases A/c..... Dr. 1000
To Discount received 100
To X A/c 900
Reason:- Actual purchase is for 1000/-
Discount recd. is our income (cr. all Income & gains)
Now Company have to pay only Rs. 900/-
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