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A company and business are not complete without profit, loss, creditor, debtor, and discounts. In fact, balance sheets and its analysis hold a certain position in your life when you are a student of accounts. But reading and putting correct transaction details in balance sheet can be way difficult if you do not have an in-depth knowledge about the topic. In order to gain that extensive understanding, we offer you our provision for discount on debtors assignment help service. With its help,you can not only get good grades but also excel in accountancy.
Provision for discount on debtors: The concept
The concept of discount provision is nearly close to the provisions for bad debtors. In this case too, a company has no assurity to recover debts. So the companies deduct the discount amount beforehand from the total debt amount prior togiving it to debtors.
Effect of this provision
With numerous effects associated with this discount provision, it is necessary for you to know these in accountancy. You will find 2 of the effects here.
- The deducted amount from the total debt is payable by debtors.
- The discount is recorded in the balance sheet and is deducted from profit and loss account. Because of this effect, the earning of a company gets reduced.
These effects are elucidated in simplest method in ourprovision for discount on debtors homework help service.
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