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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Why are sales discounts offered?

To determine

Sales Discount:

Sales discount is a way by which the seller can get the cash payments easily and before time. This is the discount given on the selling price to the customer buying the product which makes them satisfied and for seller it helps in getting the payments fast.

The reason for offering the sales discounts.

Explanation

The sales discount is provided to attract the customer to pay in time for the goods and services. These discounts are given with time terms i.e. up to a specified period this discount is available and after that the discount is finished. This discount is given on the selling price.

The sales discount is offered to fasten the payments for goods sold and services provided which saves the cost of the seller to recover the amount...

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