If a high volume company purchases $40,000 of goods, its cost will be $28,000 ($40,000 X 70%). To comply with the cost principle the company will debit Purchases (or Inventory) for $28,000 and will credit Accounts Payable for $28,000. Crediting discount received has the effect of reducing gross purchases by the amount of cash discount

According to the Bureau of Labor Statistics (BLS), the average bookkeeper makes about 40,000 USD per year. However, the most successful bookkeeping businesses can make their owners 100,000 USD per year or https://www.artmoney.ru/r_tables3.htm even more. To be on the higher-earning end of the bookkeeping spectrum, you will need to minimize costs, attract a more sophisticated