Payable in Financial Position Statement

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October 16, 2016 at 5:18 pm #343483
aw16
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Dear Sir,
Am I right to say when the credit balance of Trade Payable for the end of financial period was given. It means the total discount received of the period had been deducted and this figure is a net amount we can book in Financial Position statement ?
October 17, 2016 at 8:04 am #343939
John Moffat
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You are right (unless of course the question says that for some reason the discount had not been dealt with correctly).
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