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treatment of discount

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(Querist)
02 June 2009 like if a recived a bill from my client of RS 4000/- and i pay him 3800/- by cheque. what should be the accounting treatment of Rs 200/- difference.
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Deepak Agrawal

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Deepak Agrawal (Expert)
02 June 2009 Treated as discount & expenses should be booked for Rs.3800

Entry:

Expense A/c... Dr 3800
To Bank a/c 3800
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
05 June 2009 The correct entries are :
1)Expense A/c....Dr 4000
To Supplier A/c 4000

2)Supplier A/c....Dr 4000
To Bank A/c 3800
To Discount A/c 200




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