Answered: the discount that is being acquired

Business

Accounting

the discount that is being acquired

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter14: Investing In Stocks And Bonds

Section14.4: Buying And Selling Stocks

Problem 1CC

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Question

Kate Trading made an early payment to its suppliers to take advantage of the discount offered by the supplier. What account is most likely used for the discount that is being acquired by Kate Trading?

cash discount

trade discount

sales discount

purchase discount

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