Because sellers assume that their customers will pay within the discount period, the seller usually records the discount at the time of the sale.

Name: Because sellers assume that their customers will pay within the discount period, the seller usually records the discount at the time of the sale.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Sellers typically record sales at the gross amount and only record the discount if the customer pays within the discount period, as it is not guaranteed that all customers will take advantage of the discount.

Because Sellers Assume That Their Customers Will Pay Within the Discount