Source document for Cash discount
This query is : Open
30 January 2024
In case of cash discount given to a buyer, the seller will record Discount Allowed as an expense in Profit and loss account. Which document will be issued to the buyer showing the amount of discount allowed to him?
31 January 2024
A credit note will suffice
31 January 2024
thanks for your response
Credit Note will Dr. Sales A/c and Cr. Debtor A/c then how discount would appear in Discount allowed A/c?
Credit Note will Dr. Sales A/c and Cr. Debtor A/c then how discount would appear in Discount allowed A/c?
31 January 2024
It's can't be debit in sales account. It will separately account as Discount Paid...
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