Discovered that invoice W6438 from Wrascal Dancer Jetcraft for $19,500.00 list ($19,305.00 net), with credit terms...

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Discovered that invoice W6438 from Wrascal Dancer Jetcraft for $19,500.00 list ($19,305.00 net), with credit terms of 1/10, n/30, and dated May 13 was filed incorrectly and the cash discount has been lost. Record the discount lost entry. Check Number: 31221. Vendor Number: 29650. Since the discovery of the error and the invoice payment are made the same day, a single compound entry which includes the discount lost may be used to record this transaction. Discovered that invoice W6438 from Wrascal Dancer Jetcraft for $19,500.00 list ($19,305.00 net), with credit terms of 1/10, n/30, and dated May 13 was filed incorrectly and the cash discount has been lost. Record the discount lost entry. Check Number: 31221. Vendor Number: 29650. Since the discovery of the error and the invoice payment are made the same day, a single compound entry which includes the discount lost may be used to record this transaction.

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To record the discount lost entry for the invoice W6438 from ... View the full answer