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What is the difference between discount allowed and discount received?
discount allowed means the discount which is given by a seller to the buyer. and discount received means the discount received by the seller for purchases made
Does discount allowed have a debit or credit balance in the ledger balance?
Discount allowed is debit
How do you pass journal entry for discount allowed?
Debit cash / bankCredit discount allowed
What is the difference between discount allowed and discount received and their accounting treatment?
Discount allowed is that amount which is given by our company to others while discount received is that amount which is received by our company from others.while discount allowedDebit discount allowedCredit cashwhile discount receivedDebit cashCredit discount received
When is discount allowed to debtors?
Discount allowed for the early settlement of accounts - This discount is allowed to your debtors or customers at the time of the settlement of their account. You may agree with your customers to allow a certain percentage of discount allowed e.g. 2½ % if they settle the full amount on an invoice within 30 days). This discount is recorded when a debtor or customer settles the full invoice within the specified time. This discount needs to be entered as an expense in a Discount Allowed account and will reduce the net profit and will have no effect on the gross profit.This is murali +9199591-22272
What is the difference between discount allowed and discount received?
discount allowed means the discount which is given by a seller to the buyer. and discount received means the discount received by the seller for purchases made
Does discount allowed have a debit or credit balance in the ledger balance?
Discount allowed is debit
How do you pass journal entry for discount allowed?
Debit cash / bankCredit discount allowed
Provision for discount allowed and discount received?
provision for discount received
What is the Difference between trade discount and discount allowed?
trade discount is for trade customer (who has an account with the supplier) discount allowed is for walk in customers (no account holders)
What is the difference between discount allowed and discount received and their accounting treatment?
Discount allowed is that amount which is given by our company to others while discount received is that amount which is received by our company from others.while discount allowedDebit discount allowedCredit cashwhile discount receivedDebit cashCredit discount received
What is the ultimate impact on the money supply of an increase in the discount rate?
The increase in the discount rate will cause the money supply to reduce in growth
Is there a discount office supply store in evansville in.?
Yes, their are many discount office supply stores around Evansville, you could try your local staples business depot if you cannot find any other discount office supply stores.
When is discount allowed to debtors?
Discount allowed for the early settlement of accounts - This discount is allowed to your debtors or customers at the time of the settlement of their account. You may agree with your customers to allow a certain percentage of discount allowed e.g. 2½ % if they settle the full amount on an invoice within 30 days). This discount is recorded when a debtor or customer settles the full invoice within the specified time. This discount needs to be entered as an expense in a Discount Allowed account and will reduce the net profit and will have no effect on the gross profit.This is murali +9199591-22272
How does raising the discount rate affect the money supply?
Decreases the money supply
Does tractor supply give senior discount?
no no no
What is the difference between a trading discount and a discount allowed?
1 billion equable whats?
