Concept:A credit entry in a profit and loss account represents income or gain, while expenses are debit entries.
Explanation:The profit and loss account records expenses on the debit side and incomes on the credit side.
Carriage inwards, carriage outwards, and discounts allowed are all expenses, so they appear as debit entries.
Discounts received is income for the business, so it appears on the credit side.
Therefore, among the options, discounts received is the correct example of a credit entry.
Answer:D. discounts received