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What account is used to track discounts

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Reference no: EM132929167

Question 1: What would the credit terms 3/15, n/45 stand for?

Question 2: Explain why it is important for a company to keep track of how much money in discounts is given out? What account is used to track discounts?

Question 3: From a business owner's point of view, what are the advantages of allowing discounts?

Question 4: From a business owner's point of view, what are the disadvantages of allowing discounts?

Reference no: EM132929167

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