0
Discount Received is recorded on the credit side of the Trial Balance because it represents an income or gain for the business. It indicates the reduction in expenses or costs when a business pays its creditors early or takes advantage of discounts offered by suppliers. Since it contributes positively to the overall profitability, it is treated as a credit entry, aligning with the accounting principle that credits increase income and equity.
What else can I help you with?
Where is discount received posted in the trial balance?
credit
Where does commission received go to in the trial balance?
Debit column
Is common stock debit or credit on the trial balance?
Credit
IS CASH FLOAT CREDIT OR DEBIT IN A TRIAL BALANCE?
Credit
Which side of trial balance you write drawings?
Withdrawals are recorded on the credit side of the trial balance.
Where is discount received posted in the trial balance?
credit
Where does commission received go to in the trial balance?
Debit column
On the Trial Balance Sheet AR is?
in a trial balance sheet are is a debit credit or liabiltiy
IS CASH FLOAT CREDIT OR DEBIT IN A TRIAL BALANCE?
Credit
Is common stock debit or credit on the trial balance?
Credit
Which side of trial balance you write drawings?
Withdrawals are recorded on the credit side of the trial balance.
Is trade debtors a debit or credit transaction on the trial balance?
credit
Is bank loan credit or debit in trial balance?
credit
What is the balance of both the debit and the credit columns in the trial balance?
18,357.82
Do you debit or credit proceeds of sales of fixed asset in trial balance?
credit credit credit
What are the items in trail balance?
If this refers to trial balance in accounting cycle, then the items in the trial balance is the posting of debit and credit accounts.
How do you post wages payable into the trial balance?
credit
