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[Debit] Cash
[Credit] Discount earning
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∙ 9y ago
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What is the journal entry of discount received?
Dr cash/bank Cr discount received
How do you pass journal entry for discount allowed?
Debit cash / bankCredit discount allowed
What is the journal entry for a cash purchase with discount?
Debit purchasesCredit cash / bankno entry for trade discount and in case of cash discount:Debit purchasesCredit cash / bankcredit discount
What is the journal entry to discount notes payable?
debit cashdebit discount chargescredit notes payable account
How do you make a journal entry recording a cash discount of 10000 when you make a payment of 20000 early at the request of the seller?
Cash discount is expenses of trading account but this is not an expenses just like a scheame on spot given to the purchaser. So no seprate discount entry need in journal. just reduce discount amount in total value and entry it.
What is the journal entry for purchase discount?
Purchase A/c........Dr To Discount Recievable A/c To Party name A/C
What is the Journal entry for CASH sales with discounts?
cash a/c.......dr amt(after discount) to sales a/c amt(after discount)
What is the journal entry for credit sales with a discount?
Debit accounts receivableCredit sales revenue
What is the journal entry for payment which is not earned?
debit cash / bankcredit unearned revenue
How do you undo a general journal entry for a purchase discount?
purchse a/c dr to cash a/c
What journal entry is used to record purchase discounts?
It depends on the kind of discount and agreement that has been agreed upon in the sale transaction. Here is an example of a journal entry for discount for a normal credit sale transaction: Accounts receivable 9000 (dr) Discount from sale 500 (dr) Sales 9500 (cr)
What is the journal entry for redemption of debentures which were issued at discount?
debit redemption of debentures accountcredit cash / bank
