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If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sale: O a. Discount. O b. Allowance O . Return. O d. Contra asset

If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sale: O a. Discount. O b. Allowance O . Return. O d. Contra asset

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Q49)
This multible choice question from ACCOUNTING PRINCIPLES I.
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49 If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sale: a. Discount. O b. Allowance O C. Return. O d. Contra asset
Transcribed Image Text:49 If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sale: a. Discount. O b. Allowance O C. Return. O d. Contra asset
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