CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Journal for Discounting

Who allows a ...

Question

Who allows a cash discount?

Open in App

Solution

Cash discounts are discounted by certain vendors of products, or by certain suppliers of services, to spur clients to take care of their bills within a predetermined time. They are also called early payment discounts.

Suggest Corrections

thumbs-up

1

Similar questions

Q. A shopkeeper allows a discount of

10 %

on his goods. For cash payments, he further allows a discount of

20 %

. Find a single discount equivalent of the above offer

cash recieved from Y r.s. 300 after deducting discount allowed r.s. 30.

while posting to ledger amount of discount allowed posted to cash account and amount recieved posted to discount allowed account.

rectify the error

Q. Cash discount allowed is recorded on the debit side of cash book.

Q. Which discount is earned for payment of cash or allowed for receipt of cash.

Q. Treatment in Journal & Cash Book
Received from Asha, cash ?1200, cheque
? 3200, discount allowed ?400

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Accounting Aspect

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Journal for Discounting

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon