Answer:
In net method the discount not given is recorded as revenue and in gross method the discount allowed is recorded as expense.
Explanation:
ECG Company
Journal Entries 
<u>Net  Method</u>
 Date               Particulars                         Debit             Credit
1 March        Accounts Receivable       19400
                      Accounts Receivable     29,100
                               Sales                                              48500
( Calculation of net Sales ( 20,000* 3% = 600, 30,000* 3%= 900) 20,000- 600= 19,400 and 30,000- 900= 29,100)
8 Mar             Cash                         19400 
                           Accounts Receivable                      19400
Receipt of 20,000 Sales within discount period.
25 Mar          Cash                        30,000
                       Accounts Receivable                          29,100
                     Interest Revenue                                        900
Receipt of payment after discount time period.
<u>Gross Method</u>
1 March        Accounts Receivable       20,000 Dr
                      Accounts Receivable      30,000 Dr
                               Sales                                              50,000 Cr
Transactions of Sales on gross method. Here discount is not calculated unless given.
8 Mar             Cash                         19400 Dr
                       Discount Allowed       600 Dr
                           Accounts Receivable                      20,000 Cr
Receipt of 20,000 Sales within discount period.
25 Mar          Cash                        30,000 Cr
                       Accounts Receivable                          30,000 Cr
            Receipt of Sales of 30,000 after the discount period.