- 1 Marks
Question
In which of the following books of prime entry will trade discount be recorded?
Answer
Answer: B. Sales day book
Explanation: The Sales Day Book records the details of credit sales and includes trade discounts. Trade discounts are reductions offered on the sale price, usually for bulk purchases, and are recorded in the sales day book when calculating the invoice value.
- Tags: Accounting Process, Books of Prime Entry, Trade Discount
- Level: Level 1
- Uploader: Dotse