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What is trade discount and cash discount journal entry?

Trading Journal Entries
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Question added by Santosh Sharma
Date Posted: 2016/04/27
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Deleted user
by Deleted user

TRADE DISCOUNT NOT RECORD THE BOOKS BUT CASH DISCOUNT RECORDING THE BOOK OF ACCOUNTS

JV IS

TRADE DISCOUNT

PUR.GOODS.DR

SUPPLIER CR

 

CASH DISCOUNT

PUR.GOODS.DR

SPPLIER.CR

DIS RECD.CR

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