Should discount allowed and discount received be recorded in cash book?
Hi,
Recording of discount received and discount allowed in the Cash Book depends upon the type of Cash Book prepared.
In case of Single Column Cash Book (only Cash Column), discount received and allowed shall not be recorded
In case of Double Column Cash Book (Cash and Discount Column), discount received and allowed shall be recorded
In case of Triple Column Cash Book (Cash, Discount and Bank Column), discount received and allowed shall be recorded
Note: In case of Double Column Cash Book (Cash and Bank Column), ​discount received and allowed shall not be recorded
Recording of discount received and discount allowed in the Cash Book depends upon the type of Cash Book prepared.
In case of Single Column Cash Book (only Cash Column), discount received and allowed shall not be recorded
In case of Double Column Cash Book (Cash and Discount Column), discount received and allowed shall be recorded
In case of Triple Column Cash Book (Cash, Discount and Bank Column), discount received and allowed shall be recorded
Note: In case of Double Column Cash Book (Cash and Bank Column), ​discount received and allowed shall not be recorded