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Suppose that you are a genetic counsellor, and a couple comes to you with concerns that if they have a child together, it could have hemophilia. Suppose also that neither one of them has hemophilia, but the woman's biological father did have an X-linked recessive form of hemophilia. Which of the following is the best advice you could give them?
Customer Refunds Payable
A liability account for estimated refunds and allowances that will be paid or granted customers in the future.
Merchandise Returns
Goods returned by the buyer to the seller, often due to defects, wrong size, or dissatisfaction.
Purchase Discounts
A deduction from the original purchase price allowed by the seller to the buyer, typically for early payment or bulk purchasing.
Merchandise Inventory
Goods held by a retailer or wholesaler that are available for sale to customers.
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