The contra revenue account that represents the reduction in the amount paid by a credit customer if payment is made within a specified period of time is known as which of the following:

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 6PA: Funnel Direct recorded $1,345,780 in credit sales for the year and $695,455 in accounts receivable....
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The contra revenue account that represents the reduction in the amount paid by a credit
customer if payment is made within a specified period of time is known as which of the
following:
O Contra revenue account
O Sales allowance account
O Sales discount account
O Allowance for uncollectible accounts
ASUS
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f6
f7
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f10
f11
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Transcribed Image Text:The contra revenue account that represents the reduction in the amount paid by a credit customer if payment is made within a specified period of time is known as which of the following: O Contra revenue account O Sales allowance account O Sales discount account O Allowance for uncollectible accounts ASUS f3 f4 f5 f6 f7 f8 f9 f10 f11 区 ロ/京 %24 & 3 4. 7. 8 9. 01 Y U G H. J K 16 5 图
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