Payment for merchandise sold on credit for $50 subject to 2/10 n/30 was received within the discount period - $49 was received. This was recorded with a debit to Sales Discounts for $1, a debit to Cash for $49, and a credit to Accounts Receivable $50, but no mention was made of the subsidiary ledger account. This error will cause

Question

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Since no mention was made of the subsidiary ledger account, the credit to Accounts Receivable was not recorded in the subsidiary ledger. This will cause a discrepancy between the control account and the subsidiary ledger, as the control account will reflect the credit while the subsidiary ledger will not. This error will not impact net income or the assets.

Payment for Merchandise Sold on Credit for $50 Subject to 2/10