Question
Received cheque from Tablelands Maize in full settlement of balance owing which was supposed to be $10,200. Is this correct calculation for Discount - see
Received cheque from Tablelands Maize in full settlement of balance owing which was supposed to be $10,200. Is this correct calculation for Discount - see the procedures (2.5% off) After discussing it with S Golden they told you to let them pay this amount as is. | $9,894.00 |
My teacher marked me wrong here:
7/06/2023 Cheque Account Account Receivable - Tableland Maize 1-1100 1-2000 $ 9,894.00 $ 9,894.00 Note: Payment on balance with Cheque 154368, Big Bank, Other branch Discount Expense 6-2200 $ 51.00 See below! Account Receivable - Tableland Maize 1-2000 $ 51.00 Note: S Golden authed to forgo the outstanding balance for INV 7275
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Accounting An Introduction To Principles And Practice
Authors: Edward A. Clarke, Michael Wilson
9th Edition
0170403831, 978-0170403832
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