Search
Ask a question
1

The journal entry to record taking a discount when paying for goods previously purchased on account:

journal entry 

1 Answer by Expert Tutors

Tutors, sign in to answer this question.
Serge M. | Professor of Accounting, retired. Ph.D., CPAProfessor of Accounting, retired. Ph.D.,...
5.0 5.0 (8 lesson ratings) (8)
0
.. Accounts payable              XXX
 . . . . Purchase discounts  . . . . . . . .X
 . . . ..Cash . . . . . . . . . . . . . . . . .XX