SALES DISCOUNT Definition

Bookmark and Share

SALES DISCOUNT is a reduction in the selling price usually as an inducement to consummate a sale. Sales Discount is on the income statement as a deduction from Gross Sales to get Net Sales.

Learn new Accounting Terms

401 (K) PLAN is a retirement plan in the United States that allows qualified employees to contribute money from their paychecks into a tax-sheltered account.

ACCOUNT is the detailed record of a particular asset, liability, owners equity, revenue or expense.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.