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Some business transactions purchase goods and services from the seller, on credit. The buyer of...

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Accounting

Some business transactions purchase goods and services from the seller, on credit. The buyer of these goods and services, in good faith, intends to pay for the merchandise acquired or services rendered, on time. However, the seller knowing this is not always possible, will provide an incentive to the buyer. After reading Purchase of Merchandise on Account, page 146 to 148, illustrate and explain the incentive a buyer receives to pay his bill.

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