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April 10, 2019
Solved

prepaid expense card, discounted

  • April 10, 2019
  • 1 reply
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my client has purchased a prepaid gas card through a local company. The prepaid card is worth $500 towards gas, but he only paid $480. How do I record this so that the correct amount comes out of his chequing account, but the card is still recorded as a $500 prepaid expense?

Best answer by Rustler

on the payment

line one, prepaid expense, 500

other income, -20

 

the payment nets to 480

1 reply

Rustler
RustlerAnswer
April 11, 2019

on the payment

line one, prepaid expense, 500

other income, -20

 

the payment nets to 480