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Accountancy

Discount received results in asset increase then why it is credited? ð?¤?ð?¤? *13 question

Sai G

CA Inter

★ 6K+

17-Jun-22 20:52

667

Answers (9)

Best Answer

In general Discount received as an income referring to Nominal account rule it should be credited!

Kumar G

CA Final

★ 12K+

17-Jun-22 20:55

Discount received is not an increase in asset It is revenue nature.. So you will credit the discount received by you..

Manoj Raj

CA Final

★ 12K+

17-Jun-22 20:55

Manoj Raj

Discount received is not an increase in asset It is revenue nature.. So you will credit the discount received by you..

Thread Starter

Sai G

CA Inter

★ 6K+

17-Jun-22 20:57

Kumar G

In general Discount received as an income referring to Nominal account rule it should be credited!

Thread Starter

Sai G

CA Inter

★ 6K+

17-Jun-22 20:57

Thread Starter

Sai G

Most welcome

Kumar G

CA Final

★ 12K+

17-Jun-22 21:08

Credit discount received a/c

Priyanka R

CA Final

★ 20K+

17-Jun-22 21:09

Priyanka R

Credit discount received a/c

Thread Starter

Sai G

CA Inter

★ 6K+

17-Jun-22 21:22

Discount received is revenue item.it is income .so it shud be credited.

Kiran Vijay

CA Final

★ 4K+

17-Jun-22 21:57

Kumar G

In general Discount received as an income referring to Nominal account rule it should be credited!

Thread Starter

Sai G

CA Inter

★ 6K+

17-Jun-22 22:16