Trade Discount received on purchases is recorded in the books of account as follows:A. Trade Discount is credited to Discount Received Account.B. Trade Discount is deducted from the Invoice Price and recorded at net value.C. None of the above.D. Any of (a) and (b).

Trade Discount received on purchases is recorded in the books of accou

1.	Trade Discount received on purchases is recorded in the books of account as follows:A. Trade Discount is credited to Discount Received Account.B. Trade Discount is deducted from the Invoice Price and recorded at net value.C. None of the above.D. Any of (a) and (b).
Answer» Correct Answer - B Trade Discount is deducted from the Invoice Price and recorded at net value.