Accounting Question Help Please?
I would like to know how I should journalize this entry:

Credit invoice received from Sam's Trailors for a 10% price adjustment on
invoice #515, $1910

Please tell me what to debit/credit....purchase discounts, or purchase returns.
THANKS



Accounting Question Help Please? I would like to know how I should journalize this entry: Credit..

Answer / sajjad1

Dear you have to Pass this entry

Sam Trailer A/C 191 (dr)
Dicount on Purchse A/C 191 (Cr)
Dear there is no P/R its for asjustemt entry

If u cr the purchase Return then the closing stock will be
distrub.

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