Name: Advanced accounts by r n carter
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File format: MP3
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The amount of such discount is, therefore, estimated, or calcu- lated by means of a certain percentage of the total creditors, and is then credited to Profit and Loss Account, and debited to an account entitled Reserve for Discount on Creditors; or, alter- natively, credited to Discount Account and brought down to the debit. The Cash Paid Book is provided with the following columns — a Claims.