Reference no: EM132871736

Question - The following data were taken from the books of POGI Company which uses a voucher system. All invoices are subject to terms of 2/10, n/30 and are entered net with discount entered in the purchases discount column of the voucher register. The regular bookkeeper has become ill and a new inexperienced person has been keeping the records. At month-end, he finds that his unpaid vouchers do not prove against the vouchers payable control. You are called to adjust matters. A schedule of unpaid vouchers as of September 30, all of which net of discount, is shown below. Date Voucher No. Creditor Amount Aug-28 486 Bacolor Co. 686 Sep-03 519 Cebu Co. 392 Sep-07 528 Davao Co. 98 Sep-08 530 Tarlac Co. 343 Sep-10 536 Pampanga Co. 882 Sep-13 541 Ilocos Co. 784 Sep-19 553 Baguio Co. 441 Sep-22 559 Lucena Co. 686 Sep-26 567 Laguna Co. 735 5,047 Vouchers Payable Control Account Cash Disbursements 26,190 Voucher Register 31,136 Purchase Returns 735 Vouchers 519 and 530 canceled as goods were returned in September. What is the amount of discount lost on vouchers paid?