Desire Limited is in the business of manufacturing high fashion accessories. The company sold certain goods with

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Desire Limited is in the business of manufacturing high fashion accessories. The company sold certain goods with an invoice price of ₹25 million to one of its customer offering him a discount of 2% on the invoice price. The customer is allowed three months credit; however; a discount of 1% is offered if payment is made within 30 days. The customer in this case made the payment within the discount period and availed cash discount. How will the above transaction appear in the profit and loss statement of the company?

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