Accounting for Merchandising operation

[@Danieldg2Daniman]

thank you sir go ahead I appreciate you you expressed it well

[@AccountingLectures]

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[@xstaycreepyx7270]

Thank you!

[@AccountingLectures]

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[@RustamKhan7.7.7]

thank you sir🥰

[@AccountingLectures]

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[@hosom436]

Hi sir What if after Debit merchandise inventory 600 Credit accounts payable 600 Next day I sold all my inventory and during 10 days from my purchase I paid my account payable and earned discount. How do I earn that discount? Debit account payable 600 Credit cost of goods sold 12 ??? Credit cash 588

[@aquariiusc]

Debit: Accounts Payable $600 Credit: Purchase Discounts $12 Credit: Cash $588

[@saniarahim3201]

Helped me alot. Tysm🤍

[@AccountingLectures]

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