Examlex
The effects of soil on flora and fauna are called _______.
Net Method
An accounting technique where discounts for prompt payment are calculated and recorded immediately, reducing the purchase cost of inventory.
Allowance for Sales Discounts
An account used in bookkeeping to estimate the reduction in revenue due to sales discounts that customers are expected to take advantage of.
Accounts Receivable
Debts owed by customers to a business for items or services that have been furnished but not compensated.
Sales Discounts
A reduction in the price of goods sold, offered by the seller to the buyer, often to encourage prompt payment.
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