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I have an invoice here amounting to $1893.60 (purchases), a
credit note of $61.00. I have paid the vendor $1,832.40. How
should I record my entry?
I am aware that the credit note entry is using journal and
the payment is using payment voucher. But I am not sure how
to post the entry.
Please help. Many thanks.
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Answer Posted / lalit
PURCHASE ENTRY
PURCHSE A/C DR 1893.60
VENDOR A/C CR 1893.60
PAYMENT ENTRY
VENDOR A/C. DR 1832.60
BANK A/C. CR 1832.60
JV ENTRY
VENDOR A/C DR 61.00
DISC. A/C CR 61.00
| Is This Answer Correct ? | 2 Yes | 0 No |
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