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  3. Study Set
    Core Concepts of Accounting
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    Exam 5: Inventory
  5. Question
    In a Perpetual Inventory System, Prompt-Pay Discounts Are Recorded as Reductions
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In a Perpetual Inventory System, Prompt-Pay Discounts Are Recorded as Reductions

Question 1

Question 1

True/False

In a perpetual inventory system, prompt-pay discounts are recorded as reductions to Accounts Receivable.

Correct Answer:

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