Accounting treats cash discounts taken on the purchase of merchandise or equipment as a reduction in the

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Accounting treats cash discounts taken on the purchase of merchandise or equipment as a reduction in the amount recorded for the assets acquired. What justification can you see for this treatment?

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Financial Accounting an introduction to concepts, methods and uses

ISBN: 978-0324789003

13th Edition

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

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Question Posted: Dec 13, 2011 06:33 AM

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Accounting treats cash discounts taken on the purchase of merchandise or equipment as a reduction in the

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Financial Accounting an introduction to concepts, methods and uses

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