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Problem 1: Superior Pet Food is a manufacturer and distributor of high-quality dog food to independent pet stores as well as chain stores selling dog food. As an incentive to have these stores push Superior's product they offer a discount that ranges from 1% to 5% of purchases, depending on volume. Superior issues a check 30 days after the end of the calendar quarter for purchases made during the quarter. Patty's Pets had a good second quarter (April, May, June) and will receive a check for 3% of their purchases in July. How does Paty's Pets account for this receipt?
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