A business records purchases using the net method. Which of the following statements is...
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A business records purchases using the net method. Which of the following statements is are true: Select ALL correct choices, incorrect choices are penalized. Purchase discounts lost not taken are recorded if they pay after the discount period. Purchase discounts lost not taken are credited to the inventory account. Purchase discounts lost not taken are often considered a financing cost or interest expense on the income statement. Purchase discounts lost not taken are debited to Inventory. 
A business records purchases using the net
method.
Which of the following statements is are true:
Select ALL correct choices, incorrect choices are penalized.
Purchase discounts lost not taken are recorded if they pay after the discount
period.
Purchase discounts lost not taken are credited to the inventory account.
Purchase discounts lost not taken are often considered a financing cost or
interest expense on the income statement.
Purchase discounts lost not taken are debited to Inventory.
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