Asked by
Haelee Jenft
on Nov 12, 2024
Verified
When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount.
Trade Discount
A reduction in the listed price of goods or services offered by sellers to buyers in a commercial transaction.
- Understand the accounting procedures for handling trade discounts and purchase discounts.
Verified Answer
TG
Learning Objectives
- Understand the accounting procedures for handling trade discounts and purchase discounts.
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