Enumerate the term- cash discountsoffered to encourage, Ask an Expert

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Enumerate the term- Cash discounts

Offered to encourage prompt and early payment by buyer. Cash discounts are recorded in accounting records of both the buyer and the seller. Sales or purchases discounts. A common discount is 2/10, n/30. (2 percent discount if paid in 10 days; total due in 30 days)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9583330

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