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July 6, 2020 at 7:54 pm #576152
ketki15
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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
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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.
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