Restaurant
Early Payment Discount from Supplier
Paying a supplier invoice early and receiving a 2% cash discount.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Payable (Supplier) | Liability (-) | 1,000.00 | - |
| Cash / Bank | Asset (-) | - | 980.00 |
| Food & Beverage Inventory | Asset (-) | - | 20.00 |
💡 Accountant's Note
The discount reduces the effective cost of the inventory. In a perpetual system, the saving is credited back to inventory rather than being recorded as income.
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