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contra-expense
It's an expense, not a contra expense. If you don't pay the bill within the discount period, and you had recorded the original purchase at net (Purchase price less the early pay discount) then you have more expense, not less, when you don't pay on time.
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What type of account is a sales discount?
A sales discount account is a contra-revenue account.
Is a purchase discount account an asset or liability?
It is a contra asset account; thus, an ASSET
What type of an account is a purchase?
contra-expense It's an expense, not a contra expense. If you don't pay the bill within the discount period, and you had recorded the original purchase at net (Purchase price less the early pay discount) then you have more expense, not less, when you don't pay on time.
What account is affected in an account journal when you avail of purchase discount for office supplies that was bought on account?
Accounts payable and Cash accounts
What type of account is Purchases returns and allowances?
A contra purchase account
What type of account is a sales discount?
A sales discount account is a contra-revenue account.
Is Purchase Discount revenue or expense?
Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.
Is a purchase discount account an asset or liability?
It is a contra asset account; thus, an ASSET
What type of an account is a purchase?
contra-expense It's an expense, not a contra expense. If you don't pay the bill within the discount period, and you had recorded the original purchase at net (Purchase price less the early pay discount) then you have more expense, not less, when you don't pay on time.
Where can I purchase atkins products at a discount?
If you are looking to purchase atkins products at a discount, the best place to get purchase Atkins products at a discount is on www.vitaminshoppe.com/search/en/category.jsp?type=brand.
What account is affected in an account journal when you avail of purchase discount for office supplies that was bought on account?
Accounts payable and Cash accounts
What type of account is Purchases returns and allowances?
A contra purchase account
What type of account is purchase returns?
credit card
Account type of purchase returns and allowances?
debit
Does a debit increase purchase discounts?
Purchases account has debit balance as default balance while purchases returns has credit balance as default balance because it is use to reduce the purchases account so debit decreases the purchase discounts while credit increases the purchase discount account.
How do you upgrade times attack game?
Just buy the version you're upgrading to and it will automatically give you the correct discount on the final page where you enter your card info. If you bought your version prior to June 2010 you'll need to create an account. If you use the same email for your account that you used for the original purchase it will automatically tie your original purchase into your new account and give you the discount.
What is the Difference between trade discount and discount allowed?
trade discount is for trade customer (who has an account with the supplier) discount allowed is for walk in customers (no account holders)
