Under the gross method, the seller records discounts taken by the buyer: a. in a contra-revenue account

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Under the gross method, the seller records discounts taken by the buyer:

a. in a contra-revenue account at the date of sale.

b. never; discounts are irrelevant under the gross method.

c. before the receivable is collected.

d. when the payment is made, if applicable.

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Cornerstones Of Financial Accounting

ISBN: 9780176707125

2nd Canadian Edition

Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone

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