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Sales Discount
A reduction in the price of a product or service offered by a seller to the purchaser, usually provided for prompt payment or in specific situations.
Contra-Revenue
Accounts on the income statement that are deducted from gross revenue to arrive at net revenue, such as sales returns, allowances, and discounts.
Operating Expense
Costs related to the daily operations of a business, excluding the cost of production.
Credit Terms
The payment terms and conditions agreed upon by the buyer and seller, detailing the time period in which the buyer must pay the seller for the goods or services received.
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