Discounts received - accounts, Accounting Basics

What is Discounts received?

Posted Date: 2/12/2013 5:14:52 AM | Location : United States

A discount received arises when a business is granted a discount from a supplier for settling their account within a specified time period. The difference between the original invoice and the actual payment made is the value of the discount received.

Posted by Jacob | Posted Date: 2/12/2013 5:17:27 AM

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