Which of the
following is incorrect if it
is probable that the discount will be taken ?

Question

Which of the
following is  incorrect  if it
is probable that the discount  will be taken ?

Answer

(a)  We will recognize the full amount as sales,
as this is the income we are anticipating

Answer

(b) 
Trade receivable figure will be net of the discount

Answer

(c)  We
will recognize sales in the profit calculation net of the discount as this is
the income we anticipate earning.

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