Ledger account

This topic has 1 reply, 2 voices, and was last updated 5 years ago by John Moffat.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
July 6, 2020 at 7:54 pm #576152
ketki15
Member
- Topics: 60
- Replies: 15
in which of the prime entry would discounts received be recorded?
cash received book
cash payment book
sales day book
purchase day book
shouldnt the answer be puchase book as you recive the disc when you purchase something? why does the solution give answer B?
July 7, 2020 at 9:06 am #576207
John Moffat
Keymaster
- Topics: 57
- Replies: 54835
It depends why there is a discount.
If it is a discount for early payment then it would be noted in the cash payments book because it is when the invoice is paid that we get the discount.
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.