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net purchases

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

The gross purchases of merchandise for resale minus purchase returns, purchase allowances, and purchase discounts.

Dictionary

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  • Debits and Credits
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

Learn More About Harold

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