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-   -   Receive cash on account covering sales invoice at 2% (https://www.askmehelpdesk.com/showthread.php?t=651815)

  • Apr 17, 2012, 12:35 PM
    ohnonotjuliet
    Receive cash on account covering sales invoice at 2%
    Received cash on acct 57,060.99 covering sales invoice for 58225.50; less 2% discount 1164.51 how do I journalize that
  • Apr 18, 2012, 06:41 AM
    pready
    Debit Cash for the amount received
    Debit Sales discount for amount of discount
    Credit Sales for total amount of sales

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