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.
Answer Posted / mahesh
purchase Entry
Purchase a/c Dr 1893.60
To Vendor 1893.60
Credit Note Entry
Vendor a/c Dr 61.00
To Purchase 61.00
PAYMENT ENTRY
Vendor a/c Dr 1832.40
To bank 1832.40
Discount Entry
Vendor a/c Dr 0.20
To Discount 0.20
Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
why assets are shown at their historical cost price but not at their current price bcoz we are following historical cost concept. but this will not reveal correct financial position of the business.give reason
SIR HOW MANY FORM USE FOR COMMERCIAL TAX & WHAT IS THEIR USES. PLEASE GIVE YOUR SUGGEST
List the type of transactions entered in journal proper.
HELLO FRIENDS I WANTED TO THAT IS DUPLICATE KEY MAKING CHARGE IS UNDER THE HEAD OF GENERAL EXPENSES
what are the limitations of accounting ratios?
Did you use accounting applications at your previous companies or prefer working manually??
What is the difference between Accruals and Provisions?
how to record the full and final settlement of employee (salary payable,other payable,,....) when he leaves the company ? or how to pass the entry for that ?
what is the journal entry can be passed for an opening balance (bank, fixed asset, provisions)to the new software
Have you ever made mis reports and what are they?
Tell me what are the three factors that can affect your cash flow and business profitability?
What qualifications have you achieved?
What is capital adequacy ratio? What is demat account?
Why is it necessary to prepare Asset Disposal Account?
Under what type of account do the unearned revenues fall?