discount received

A discount granted to a supplier, for example for a bulk purchase or a prompt payment. It is shown as a credit in the profit and loss account

Accounting dictionary. 2014.

Look at other dictionaries:

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  • Specialized journals — Journals are a simple system of recording transactions. Journals are also easy to maintain and control. They record transactions over a specified time in DATE ORDER. They reduce the number of entries that need to be made into the ledger, they… …   Wikipedia

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