Check sibling questions
A LTD
Purchase 70000
(700 KG*100)  
 +   VAT 5% 3500
  73500

Suppose Company received a Credit Note for Turnover Discount as follows

A LTD
Turnover discount 8500
 +   VAT 5% 425
  8925

Pass entry for Purchase ,payment and Discount received

Will we issue Debit Note or Credit Note

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.