discussion question

1. What is the difference between the trade discount and the cash discount? 2. What is the difference between the cash receipt journal and the cash payment journal? 3. What accounts are not included in the calculation of sales discounts. 4. What are sales journal and purchases journal used for? 5. Which of these two transactions is recorded in the purchase journal? (a) the purchase of a desk for use in the office (b) The purchase of merchandise