XYZ issued an invoice to T. Henry for £10,000, less a 20% trade discount for inventory. The invoice
Also included terms which stipulated that a cash discount of 5% would be allowed if the invoice was
Paid within 10 days.
The double entry to record the receipt within 10 days in the books of XYZ is as follows:

Question

Quizplus · Accepted Answer

The Answer of XYZ issued an invoice to T. Henry for £10,000, less a 20% trade discount for inventory. The invoice
Also included terms which stipulated that a cash discount of 5% would be allowed if the invoice was
Paid within 10 days.
The double entry to record the receipt within 10 days in the books of XYZ is as follows:

XYZ Issued an Invoice to T