A reduction in the amount owed by a customer that does not involve the return...

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Accounting

A reduction in the amount owed by a customer that does not involve the return of merchandise.
A reduction in the amount of revenue earned on a sale as a result of receiving an early payment from the customer.
A liability account used to estimate the amount to be reimbursed to customers in the future as a result of return of merchandise.
An asset account used to approximate the cost of merchandise inventory a company will get back from a customer after a sale.

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