The Giles Agency offers a 12% trade discount when providing advertising services of $1,000 or more to

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The Giles Agency offers a 12% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s Antiques decides to purchase advertising services of $3,500 (not including the trade discount), while Michael’s Motors purchases only $700 of advertising. Both services are provided on account. Record both transactions for The Giles Agency, accounting for any trade discounts.

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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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