The account used by the purchaser to record the amount of discount granted by its suppliers for prompt payment is called the:

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The account used by the purchaser to record the amount of discount granted by its suppliers for prompt payment is called the "discount received" account. Option A (discount allowed account) is used by the seller to record the discount given to its customers, Option C (discount taken account) is used by the buyer to record the amount of discount it has taken and Option D (financial discount account) is not a recognized accounting term.

The Account Used by the Purchaser to Record the Amount