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Provision for discount on debtors and provision for discount on creditors?

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Answer:

a provision is set up to give discounts to debtors who settle accounts early. as the company are not receiving the full debt they have a provision in place in this eventuality. This is seen as an expense to the business and brings the amount the debtors down. In other words dr P&L and Cr debtors in balance sheet

First answer by ID1397163812. Last edit by ID1397163812. Question popularity: 2 [recommend question].

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Relevant answers:

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a stock of food
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