accounting students

milorinodino

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Nov 23, 2011
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help needed

question 1:
table cost 50
table selling price 500
discount 10% (aka 50)

how would you take in the double entry of discount?

dr cash 450
cr discount allowed 50?


question 2:
table cost 50
table selling price 500
free of charge

how would you take in the double entry of complimentary table?

TIA!!
 
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