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For the Heritage Home Furniture practice set, May 13 Issued a check no. 529 to Lexis Fine Furniture in payment on account, April 14 purchase, $16,700...

For the Heritage Home Furniture practice set, May 13 Issued a check no. 529 to Lexis Fine Furniture in payment on account, April 14 purchase, $16,700 less 2% discount. How would you record the discount?
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Accounting-8099942.doc

Entries that is to be passed in the books of Heritage Home Particulars If the discount is in the nature of trade discount then no
discount entry is passed.
If in the given question the discount is...

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