Accounting for Purchase Discounts: Net Method vs Gross Method Online Marketing LeadershipOnline Marketing Leadership
If the company does not avail of a trade discount, the subsequent journal entry would be to Debit – Accounts Payable and Credit – Cash/Bank. For the accounting for purchase discounts past 52 years, Harold Averkamp (CPA, MBA) hasworked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. For the […]