Record the collection of half of the balance of $12,740 owed by the customer within the discount period. 2/10 n/30

Question

Record the collection of half of the balance of $12,740 owed by the customer within the discount period. home work assignment answer not in book

Answer 1

dr. Accounts payable  . . . 6370.00

cr . . . . . Purchase discount . . . .127.40

cr . . . . . .Cash . . . . . . . . . . . .6,242.60