Accounting treatment of referral discount.
Querist : Anonymous
I would like to know that in a trading concern, in case of referral discounts (for instance, discount provided due to referral by friend), what should be the accounting entry? Also, under Sales, should we show the discount amount separately and Gross sale amount separately or we should show sales amount after reducing Discount amount?
Any help in this regard would be appreciated.
Querist : Anonymous
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