Receiving a Refund from Vendor Creating Problems with Inventory?
I got a partial refund back from my vendor for $1,242 for 1 widget that originally I paid $6,750. This widget is currently in my inventory as 1.
I created a credit of $1,242 which was applied towards this widget. I made the deposit and applied it from the vendor and the accounts payable account for the amount of $1,242. Here is the problem, when I create a credit for the $1,242, it takes the widget out of my inventory???? Inventory shows zero.