Contra revenue accounts are used for both sales discounts and sales returns and allowances. Explain the advantages

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Contra revenue accounts are used for both sales discounts and sales returns and allowances. Explain the advantages of this approach.

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Understanding Financial Accounting

ISBN: 978-1118849385

1st Canadian Edition

Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald

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Question Posted: Jun 11, 2015 06:39 AM

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Contra revenue accounts are used for both sales discounts and sales returns and allowances. Explain the advantages

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The use of contra revenue accounts such as sales discounts retur...View the full answer

Understanding Financial Accounting

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