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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

Distinguish between a cash discount and a trade discount.

To determine

Indicate the difference between the cash discount and trade discount.

Explanation

Cash discount: The merchandisers (sellers) offer a reduction in sales price on initial sales, to accelerate the credit sales payments, by their customers (buyers) within the sale terms promptly. Such a reduction in sales price is referred to as cash discount.

Trade discount: The merchandisers and wholesalers of...

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