debit accounts receivable 950
credit Sales revenue 950
Debtors a/c Dr. Discount expense a/c Dr. To Sales a/c
debit goods purchased (at trade discount amount)credit cash / bank / accounts payable
debit accounts receivable (for 50% Sales)credit sales revenue
Debit - Discount received 200 Credit -customers account 200
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)
[Debit] Cash[Credit] Discount earning
There are several journal entries that could be made for items purchased on discount. The journals for keeping tabs generally have categories for debit, credit, discount, and total.
Debit accounts receivableCredit sales revenue
Debit accounts receivableCredit sales revenue
debit cash credit bills purchase
Debtors a/c Dr. Discount expense a/c Dr. To Sales a/c
debit goods purchased (at trade discount amount)credit cash / bank / accounts payable
debit accounts receivable (for 50% Sales)credit sales revenue
Purchase A/c Dr . Dis. Received A/c dr to Supplier A/c cr
Debit - Discount received 200 Credit -customers account 200
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)
debit accounts receivablecredit sales tax payablecredit sales discountcredit sales revenue