Trade discount of previous financial year

Dear CA Freinds

I would like to seek your valuable suggestion on below

1. We have received special quantity discount (have material impact on bottom line)  from one of our suppliers, during current financial year (but supplies of previous year)

2. Our budgeted profit will be affected, if we account the same in current year

3. We are not in a position to re state our previous financials

Kindly advise how to deal with it

 

Regards

Murthy

 

 

 

Replies (1)

Put it in discount receivable account in debit and credit to the supplier account with worth of materials.

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