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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

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What is the journal entry for Issued cheque in favour of Mr jain and bro and discount allowed by them?

The journal entry for issuing a cheque in favor of Mr. Jain and Bro, along with the discount allowed, would involve two components: recognizing the payment and recording the discount. The entry would be: Debit: Mr. Jain and Bro (Accounts Payable) - Amount of the cheque Credit: Bank/Cash - Amount of the cheque Credit: Discount Allowed - Discount amount This reflects the reduction in liability due to the payment and the expense incurred for the discount.


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


When debentures are issued at discount it is prudent to write off the discount?

when debentures are issued at discount, it is prudent to write off the discount


When debentures are issued at a discount it is prudent to write off the discount?

when debentures are issued at discount, it is prudent to write off the discount


State three possible reasons why a debtor's account might have a credit balance?

Overpayment Payment in advance Credit note issued Deposit received


How do you find your credit card's issuing bank?

It should be right on the card. If it isn't it will be in the paperwork you received when they issued you the card.


What do you understand by issue of shares at premium par discount?

If a share has a nominal face value of say $10.00 then if issued at less than $10.00, is said to issued at a discount If issued at $10.00, then issued at par. If issued at more than $10.00 is issued at a premium.


What is a credit notes?

A credit note (also known as a credit memorandum or credit memo) is a document that is issued by a seller to a buyer. The credit note is used to reimburse a buyer for goods that have been returned to the seller or for goods/services that were not received by a buyer.


What does the term interest credit refer to?

The term interest credit refers to percentage of the credit that will be added as interest by the bank that issued a credit card. In this case, when the customer exceeds the allowed money limit, the bank will start taking interest on the exceeded credit.


What is credit notes?

A credit note (also known as a credit memorandum or credit memo) is a document that is issued by a seller to a buyer. The credit note is used to reimburse a buyer for goods that have been returned to the seller or for goods/services that were not received by a buyer.


What is maximum discount on shares issued?

10%


What are the advantages of having a gas credit card?

You can purchase anything would like using your gas credit card as long as it is from the station the card is issued for. You may earn "points" towards free product or receive gas at a discount if you use your gas credit card to pay for your transaction.