Which of the following is true of sales discounts?
A) It is shown as an addition to Other Income on the income statement.
B) It is shown on the balance sheet under owner's equity.
C) It is shown on the balance sheet under liability.
D) It is shown as a deduction from Sales on the income statement.
E) It is shown on the balance sheet under short-term assets.
Correct Answer:
Verified
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