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    thawkins's Avatar
    thawkins Posts: 2, Reputation: 1
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    #1

    Oct 12, 2010, 12:57 PM
    Acct payable journal entries- discount
    How do you write a journal entry for acct payable when it is paid within the discount period. Is the acct payable the full amt or the cash?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Oct 13, 2010, 06:46 AM

    Debit Accounts Payable for the account balance
    Credit Cash for the amount paid
    Credit Purchase Discounts for the amount of discount
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