Furniture purchase rs 10000 at a 10 % discount ? Journal Entries

Please refer to the picture

  • 2
Furniture 10000
to Discount received 1000
to Cash. 9000
  • 1
If it is a trade discount :
Furniture A.c. Dr. 9000
To cash A.c. 9000

If it is a cash discount :
Furniture A.c. Dr. 10000
To cash A.c. 9000
To discount received A.c. 1000
  • 2
Which discount
  • 0
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