Indicate whether each of the following statements is true or false. a) A cash discount...
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Accounting
Indicate whether each of the following statements is true or false. a) A cash discount is extended to reward the buyer for purchasing large quantities of goods. b) A purchase discount refers to a cash discount as seen from the seller's viewpoint. c) A sales discount refers to a cash discount as seen from the buyer's view. d) In a perpetual inventory system, a sales discounf is recorded as a reduction of sales revenue. e) In a perpetual inventory system, a purchase discount is recorded as a reduction of merchandise inventary
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