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Pamnani
Dec 21, 2008, 06:44 AM
Why no journal entry is passed for trade discount??

angeliken
Dec 29, 2008, 07:46 AM
As a general rule, trade discount is not journalize. It is just a privilege being offered by the seller to the buyer for the virtue of the latter paying his account at the earliest possible time. Trade discount does not form part of the purchase price on the part of the buyer.