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ohnonotjuliet
Apr 17, 2012, 12:35 PM
Received cash on acct 57,060.99 covering sales invoice for 58225.50; less 2% discount 1164.51 how do I journalize that

pready
Apr 18, 2012, 06:41 AM
Debit Cash for the amount received
Debit Sales discount for amount of discount
Credit Sales for total amount of sales