Treatment of discount on fixed asset

This query is : Resolved 

04 February 2009 Dear All,
If fixed asset is purchased and if supplier allows discount on the price of the same which is shown separately in the purchase bill,whether such discount should be credited to Profit and Loss A/c or reduced from the cost of the fixed asset?

04 February 2009 Discount given has to be reduced from the cost of the fixed asset.



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