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Level 2

How to record payments for netted invoices against a credit balance?

I'm trying to figure out how to record a payment against several bills when the payment amount is less than the total amounts of those bills combined but still paying off the bills because the vendors gave us a credit for a previous bill that we overpaid. 

 

bill 1: $100

bill 2: $100

bill 3: $100

credit amount: $20

 

When we paid the vendor, we paid  ($100 + $100 + $100) - $20 = $280. So how should I record the $280 payment against those 3 bills? Because if I check them, one bill will be short of $20 and will not appear as "paid". 

 

Thank you.

 

 

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