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Home Q & A Board Other Fields Homework Help Business Accounting
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swaggy456 swaggy456
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5 years ago
A company uses the gross method to account for cash discounts offered to its customers. If payment is made before the discount period expires, which of the following is correct?
A) Sales discounts is debited for the amount of discounts taken by customers.
B) Sales discounts is credited for the amount of discounts taken by customers.
C) Accounts receivable is debited for the gross amount of cash received from customers.
D) Accounts receivable is credited for the net amount of cash received from customers.
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
Authors:
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KedavraKedavra
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#1
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5 years ago
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swaggy456 Author
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5 years ago
Thank you, thank you, thank you!
Butwhy
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Zacellison
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2 hours ago
Thanks
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