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Sellers often offer some discounts to customers to adjust the sales prices of items listed in the catalogue. Such kind of discount

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 26MC: A customer returns $690 worth of merchandise and receives a full refund. What accounts recognize...

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Question

Sellers often offer some discounts to customers to adjust the sales prices of items listed in the catalogue. Such kind of discount is known as _________________.

Net realizable value (NRV)

Sales allowance

Trade discount

Sales discount

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