Most companies will take a purchases discount, because 1% or 2% discounts are insignificant.
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Q44: Title to merchandise shipped FOB shipping point
Q53: The seller may prepay the freight costs
Q56: The adjusting entry to record inventory shrinkage
Q59: Because many companies use computerized accounting systems,
Q60: Purchased goods in transit, shipped FOB destination,
Q61: Computerized systems can be used to capture
Q62: The ratio of net sales to assets
Q65: A business using the perpetual inventory system,
Q69: The buyer will include the sales tax
Q70: Closing entries for a merchandising business are
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