Many states base their sales tax on gross sales less any discount. Trade-in allowances are not discounts,
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How much of the $12,000 price reduction should be called a discount? How much a trade-in? Mr. Eap wants to pay as little sales tax as legally possible.
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
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Related Book For
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
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