A) What Is the Effect on the Accounting Equation of the Seller

question 67

Essay

a) What is the effect on the accounting equation of the seller of granting an "allowance" for merchandise that the customer is not satisfied with?
b) What is the effect of the above situation on the accounting equation of the purchaser?
For both questions, assume that the merchandise had been sold on account, and the invoice had not yet been paid.

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