The industrial paper merchant Estrelle buys paper reels to resell them as they are. The invoice, payable on credit, shows a list price of 50,000, a trade discount of 4% and recharged delivery costs of 1,000. The VAT of 9,800 is recoverable. Record the entry for the receipt into inventory.
- List price
- 50,000
- Trade discount rate
- 4 %
- Recharged delivery costs
- 1,000
- Recoverable VAT
- 9,800