Discount allowed journal entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2013
Received cash from customer for $2940 after allowing 2% cash discount.
What is total amount receivable?
Somebody answer me quick.
Im having trouble with the calculation of total amount receivable and discounted amount.
What is total amount receivable?
Somebody answer me quick.
Im having trouble with the calculation of total amount receivable and discounted amount.
CA Suraj Lakhotia
(Expert)
06 March 2013
Total Cash Received - 2940 $
For every 100$ You would receive 98$ after cash discount of 2$.
Total receivable would be - 2940/98*100 i.e 3000$ and cash discount would be 60$
For every 100$ You would receive 98$ after cash discount of 2$.
Total receivable would be - 2940/98*100 i.e 3000$ and cash discount would be 60$
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
