From Cash Book it is found that discount of Rs.85 allowed by Jadu was not posted to his account. What will be the entry ? Please reply.
Rectification of Errors.
Menu
CA Foundation Accounting
Replies (1)
Discount Received is a column found on the credit side of the Cash Book. When a creditor is paid and the business receives a discount the discount received and is recorded in the discount received column and the corresponding entry appears as a debit in the creditor's account.
Recent Threads
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
- A Restaurant registered under the Composition Sche
Related Threads
CAclubindia
