It is probably better to get the discount price out of the way, by implementing it to the journal entries depending on who is the buyer/seller. Such as instead of putting 7000, you can put 6860. How did I get that number, (7000 - (7000* 0.02)). 2/10 is converted as a 2% discount if paid within 10 days or written as .02 in decimal form.
It is probably better to get the discount price out of the way, by implementing it to the journal entries depending on who is the buyer/seller. Such as instead of putting 7000, you can put 6860. How did I get that number, (7000 - (7000* 0.02)). 2/10 is converted as a 2% discount if paid within 10 days or written as .02 in decimal form.