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Author Question: The collection on account within the 2/10 n/30 discount period was recorded using a 10% discount ... (Read 67 times)

futuristic

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on: Nov 11, 2019
The collection on account within the 2/10 n/30 discount period was recorded using a 10% discount rather than a 2% discount in both the controlling and subsidiary accounts. This error will cause
◦ the control account to not agree with the subsidiary ledger.
◦ the assets to be overstated.
◦ the net income for the period to be understated.
◦ the net income for the period to be overstated.
College Accounting: A Practical Approach ¦ Slater, Zwicker ¦ 12th Edition
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Marked as best answer by futuristic on Nov 11, 2019

fatboyy09

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Reply #1 on: Nov 11, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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futuristic

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Reply 2 on: Nov 11, 2019
Thanks for the timely response, appreciate it

ultraflyy23

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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