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discount on purchases is recorded in
on the debit side of trading a/c
on credit side of profit and loss a/c
balance sheet
none of the above
discount on purchase is cash discount (and not trade discount ) received at the time of purchase. the reason is that trade discount isnot recorded in the books at all. being an income, its recored ion the credit side of P & L a/c
By: SWAPNIL AGGARWAL ProfileResourcesReport error
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