If a company employs the gross method of recording accounts receivable from customers, then sales discounts taken should be reported as an item of "other expense" in the income statement. a deduction from sales in the income statement. sales discounts forfeited in the cost of goods sold section of the income statement. a deduction from accounts receivable in determining the accounts receivable amount expected to be collected.
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Home » Business » If a company employs the gross method of recording accounts receivable from customers, then sales discounts taken should be reported as an item of "other expense" in the income statement. a deduction from sales in the income statement.