The entry to record payment of a voucher,for an invoice after the discount period,under the net method will include:

Name: The entry to record payment of a voucher,for an invoice after the discount period,under the net method will include:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Under the net method, discounts lost are debited when payment is made after the discount period. Therefore, the entry to record payment of a voucher for an invoice after the discount period would include a debit to Discounts Lost.

The Entry to Record Payment of a Voucher,for an Invoice