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Why should you take discount recivied in credit side of the profite and loss acccount?
Wiki User
∙ 11y ago
When you receive discount from a seller, it's an income and should be shown in the credit side of the profit & loss account.
Wiki User
∙ 11y ago
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Is sales discount a debit or credit?
Credit
How do you discount a letter of credit?
HelloMost banks discount your letter of credit at rate of 3% to 20% but n our case we have a very strong relationship with our bank and we can for certainty discount your letter of credit at 75-80%.Please contact me if you need to discount your letter of credit or can have a letter of credit issued .my email:theswiftd@gmail.com
Is discount allowed and discount received are same as credit note issued and credit not received?
no because the discount allowed and discount received are totally diffrent and has no link with each other where as if credit note is not issued than it cant received even
Is it possible to get a discount for credit card processing?
Yes it possible to get a discount for credit card processing at many places. Many companies are giving discount for credit card processing online, but many companies charge more for credit card processing.
What is the journal entry for earned discount?
[Debit] Cash[Credit] Discount earning
What is cash discount?
A discount given to the buyer if he/she pays in cash rather than credit
Does discount allowed have a debit or credit balance in the ledger balance?
Discount allowed is debit
What is the journal entry for credit sales with discount?
Debit accounts receivableCredit sales revenue
What is the discount code on a credit card?
a discount code is not found on a credit card... i am guessing you saw this 'discount code' from a website that you were trying to buy something from... the discount code would be found on a coupon from this store. ex. if you received a coupon from walmart... you could go onto walmart.com, put in your credit card information, and enter the zode from the coupon to receive a discount.
Where is discount received posted in the trial balance?
credit
Are credit card discounts reported as operating expenses on an income statement?
a credit card discount would be a credit, not an expense.
What is the opposite of discount?
The opposite of "a discount" (reduction in price) would be a premium or surcharge. The opposite of the verb discount (dismiss) could be credit, accept,or consider.
