Journaling the merchandise amount


Acocunting question: Purchased merchandise on account, list price is $30,000, trade discount 40%, FOB destination, 2/10, n/30.The issuing I'm having is when journaling the merchandise amount do I calculate the 40% discount first or the 2% discount?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Journaling the merchandise amount
Reference No:- TGS0709108

Expected delivery within 24 Hours