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prepaid expense card, discounted
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?
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Other Questions
on the payment
line one, prepaid expense, 500
other income, -20
the payment nets to 480