Cambrige Notes: Cash Discount,Discount Received and Discount Allowed
Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The Cash Book:Discount Received and Discount Allowed
- Businesses prefer it if their customers pay quickly
- Businesses may thus accept a sum slightly lower than the invoice amount in settlement of a debt if payment is made within a certain period
- This reduction is known as a cash discount
- Cash discount-an amount given in exchange and […]