Gaap Accounting For Purchase Discounts

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Accounting For Purchase Discounts - Explanation On Types ...

(2 days ago) Discounts may be offered by suppliers on sales of goods to attract buyers. Discounts may be classified into two types: Trade Discounts: offered at the time of purchase for example when goods are purchased in bulk or to retain loyal customers. Cash Discount: offered to customers as an incentive for timely payment of their liabilities in respect of credit purchases.

https://accounting-simplified.com/financial/purchases/discount-received/

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GAAP Accounting Rules for Sales Tax on Discounts | Your ...

(1 days ago) Generally accepted accounting principles, or GAAP, set standards for consistency in recording and reporting financial information. Because external audit and tax reports follow GAAP standards, your business most likely already complies with GAAP accounting rules for collecting and reporting sales tax on discounts.

https://yourbusiness.azcentral.com/gaap-accounting-rules-sales-tax-discounts-27463.html

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80% OFF Gaap Accounting For Purchase Discounts Verified ...

(1 months ago) DISCOUNT (22 days ago) COUPON (17 days ago) DISCOUNT (20 days ago) (19 days ago) gaap accounting for coupons.Home; gaap accounting for coupons; 2 days ago A coupon is a voucher that entitles the holder to a discount on a particular purchase.The issuance of a coupon allows the seller to advertise the discounted price of a product or ...

https://getcouponsworld.com/gaap-accounting-for-purchase-discounts

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Purchase Discount in Accounting | Double Entry Bookkeeping

(2 days ago) Purchase Discount Journal Entry. Accounting for purchase discounts requires two journal entries. Purchase Invoice Posted. At the date of purchase the business does not know whether they will settle the outstanding amount early and take the purchases discount or simply pay the full amount on the due date. In these circumstances the business ...

https://www.double-entry-bookkeeping.com/accounts-payable/purchase-discount/

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Gaap Accounting For Purchase Discounts - Best Coupon Codes

(25 days ago) DISCOUNT (22 days ago) COUPON (17 days ago) DISCOUNT (20 days ago) (19 days ago) gaap accounting for coupons.Home; gaap accounting for coupons; 2 days ago A coupon is a voucher that entitles the holder to a discount on a particular purchase.The issuance of a coupon allows the seller to advertise the discounted price of a product or ...

https://www.mybestcouponcodes.com/gaap-accounting-for-purchase-discounts/

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Gross Method of Accounting for Cash Discounts | Your Business

(2 days ago) Under the gross purchase method, you enter a $500 debit of purchases on the date of sale. You enter a credit for the same amount to accounts payable. If you pay the bill within 10 days, you debit accounts payable for $500, credit cash for $490 and credit purchase discounts for $10 days.

https://yourbusiness.azcentral.com/gross-method-accounting-cash-discounts-24556.html

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Accounting for sales discounts — AccountingTools

(2 days ago) Another common sales discount is "2% 10/Net 30" terms, which allows a 2% discount for paying within 10 days of the invoice date, or paying in 30 days. If a customer takes advantage of these terms and pays less than the full amount of an invoice, the seller records the discount as a debit to the sales discounts account and a credit to the ...

https://www.accountingtools.com/articles/what-is-the-accounting-for-sales-discounts.html

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Gaap Accounting For Purchase Discounts | Coupon Codes

(1 year ago) Here come the coupons, coupon codes, discounts and discount codes of wide-ranging brands, the smartest way to save off. Find all in this coupon offering site.

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What should be the entry when goods are purchased at a ...

(2 days ago) Examples of Entries for Goods Purchased at a Discount. Trade discount. Some suppliers have catalogs with prices before any discounts. Let's assume that the supplier gives companies that purchase a high volume of goods a trade discount of 30%. A small volume buyer receives only a 10% discount.

https://www.accountingcoach.com/blog/purchase-trade-discounts

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The New Accounting Rule for Bond Premium Amortization ...

(1 days ago) Even though the GAAP accounting method is changing, bondholders will be required to maintain their historic tax methods of accounting for premium amortization if the new GAAP method is not an acceptable method for federal income tax purposes. Under IRS rules for a taxable bond, the holder must assume the scenario that gives it a higher yield.

https://www.crowe.com/insights/crowe-financial-services-tax-insights/the-new-accounting-rule-for-bond-premium-amortization

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Purchase Accounting Valuation for Various Real Property ...

(2 days ago) A Purchase Price Allocation (“PPA”) estimates the Fair Value of certain tangible and financial assets acquired in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“FASB ASC 805”) and Topic 820, Fair Value Measurement (“FASB ASC 820”).

https://www.stout.com/en/insights/article/purchase-accounting-valuation-various-real-property-assets

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Gaap Accounting For Purchase Discounts Sites | Restaurant ...

(3 months ago) gaap accounting for purchase discounts. COUPON (1 months ago) Purchase Discount in Accounting | Double Entry Bookkeeping. CODES (2 days ago) If the business pays within 10 days then a 2% purchase discount amounting to 30 can be deducted from the purchase invoice, and the business will pay only 1,470 to settle the supplier account.

https://restaurantcouponsfinder.com/gaap-accounting-for-purchase-discounts

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Gaap Accounting For Purchase Discounts

(17 days ago) gaap accounting for purchase discounts - Best Coupon Codes. CODES (7 days ago) DISCOUNT (22 days ago) COUPON (17 days ago) DISCOUNT (20 days ago) (19 days ago) gaap accounting for coupons.Home; gaap accounting for coupons; 2 days ago A coupon is a voucher that entitles the holder to a discount on a particular purchase.The issuance of a coupon allows the seller to advertise the discounted price ...

https://www.find-coupon-codes.com/gaap-accounting-for-purchase-discounts/

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Accounting for discounts under IFRS - CPDbox - Making IFRS ...

(2 days ago) Therefore logically, we should look to the standard IAS 18 Revenue or IFRS 15 Revenue from Contract with Customers. for guidance.. Both standards specify that you should present the revenue net of discounts.Just refer to IAS 18.7 or IFRS 15.47 and following).

https://www.cpdbox.com/accounting-discounts-ifrs/

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Volume Discounts in ASC 606 | RevenueHub

(1 days ago) Volume discounts are a common form of variable consideration found in purchase contracts today. These volume discounts are commonly provided through hierarchical pricing (incrementally lower purchase prices at predefined thresholds for additional purchases), retrospective refunds (partial refunds for earlier purchases once a threshold is reached), and percentage discount vouchers.

https://www.revenuehub.org/volume-discounts/

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Inventory discounts and rebates - Grant Thornton Insights

(1 days ago) Accounting for these reductions will vary depending on the type of arrangement. This IFRS Viewpoint provides our views on the purchaser's accounting treatment for the different types of rebate and discount along with some application examples. Our view. Review the attached pdf for more analysis and some application examples.

https://www.grantthornton.global/en/insights/viewpoint/inventory-discounts-and-rebates/

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Gross Purchase Method in Accounting | Bizfluent

(3 days ago) Gross purchase method and net purchase method are two accounting strategies used to record the discounted sales price of goods sold on credit. Discounts are incentives to purchase products and reward customers for paying quickly. An example of a discount is 3/10, net 30, which means if payment in full is received ...

https://bizfluent.com/info-10061660-gross-purchase-method-accounting.html

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Gaap Accounting For Sales Discounts - Best Coupon Codes

(5 days ago) Gaap Accounting For Sales Discounts - Best Coupon Codes. CODES (6 days ago) gaap accounting for sales discounts - Best Coupon Codes. CODES (6 days ago) DISCOUNT (21 days ago) gaap accounting for sales discounts: 0 Coupons and 44 Deals.Accounting for sales discounts February 10, 2019 / Steven Bragg A sales discount is a reduction in the price of a product or service that is offered by the ...

https://www.mybestcouponcodes.com/gaap-accounting-for-sales-discounts/

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Accounting Treatment for Promotional Cards | BDO ...

(2 days ago) While the use of pre-paid and store-valued cards carries many benefits for restaurants, various types of cards have distinct and unique accounting treatment ramifications under U.S. generally accepted accounting principles (GAAP).

https://www.bdo.com/blogs/restaurants/may-2016/accounting-treatment-for-promotional-cards?feed=8799bc52-2237-4688-aeac-83e40e623b56

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According to GAAP, how should one account for concessions ...

(5 days ago) My company competes in a competetive market...such that discounts are given so often that there is a name for different kinds of sales discounts. One of these is a concession. Let's say that my company invoices a customer, and the customer disputes the invoice. The invoice is correct as-is, but the company extends a gesture to the customer by crediting the sale anyway. The effect of this is to ...

https://answers.yahoo.com/question/index?qid=20071130171211AAjjona

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Purchase discounts taken — AccountingTools

(2 days ago) Suppliers offer their customers purchase discounts in exchange for paying their bills early. It is important to track purchase discounts taken, since they directly improve profits by reducing the amount paid to suppliers. In order to track whether purchase discounts are actually being taken, the accounting staff must:

https://www.accountingtools.com/articles/2017/5/13/purchase-discounts-taken

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Purchased Loan Accounting for Financial Institution ...

(2 days ago) Preparing for transition Purchased Loan Accounting for Financial Institution Acquisitions. David Heneke ; 2/29/2016 An increasing number of financial institutions are getting involved in acquisitions, but accounting for acquired loans can be difficult.When an institution performs an acquisition, all financial instruments (i.e., assets and liabilities) are required by current accounting ...

https://www.claconnect.com/resources/articles/purchased-loan-accounting-for-financial-institution-acquisitions

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Gift Card Accounting, Part 1: The GAAP Standards

(1 days ago) Accounting for the sale and redemption of gift cards under GAAP is pretty straightforward. When the card is sold, the company debits cash and credits a corresponding gift card liability. As cards are redeemed, the liability is debited and revenue is recognized as a credit to sales, but .

https://www.firmofthefuture.com/content/gift-card-accounting-part-1-the-gaap-standards/

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Gaap Accounting For Sales Discounts - allcoupons.org

(3 months ago) Accounting for sales discounts — AccountingTools. CODES (4 days ago) An example of a sales discount is for the buyer to take a 1% discount in exchange for paying within 10 days of the invoice date, rather than the normal 30 days (also noted on an invoice as "1% 10/ Net 30" terms). Another common sales discount is "2% 10/Net 30" terms, which allows a 2% discount for paying within 10 days of ...

https://allcoupons.org/gaap-accounting-for-sales-discounts/

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Top Sites Have Gaap Accounting For Sales Discounts ...

(1 months ago) Legal Sites Have gaap accounting for purchase discounts ... COUPON (1 months ago) Accounting For Discounts Gaap - Free Coupon Codes (19 days ago) Accounting for sales discounts — AccountingTools. CODES (4 days ago) Another common sales discount is "2% 10/Net 30" terms, which allows a 2% discount for paying within 10 days of the invoice date ...

https://couponbycell.com/gaap-accounting-for-sales-discounts

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Legal Sites Have Gaap Accounting For Purchase Discounts ...

(9 days ago) gaap accounting for purchase discounts - Best Coupon Codes. DISCOUNT (15 days ago) gaap accounting for purchase discounts (1 months ago) Purchase Discount in Accounting | Double Entry Bookkeeping. CODES (2 days ago) If the business pays within 10 days then a 2% purchase discount amounting to 30 can be deducted from the purchase invoice, and the ...

https://avmdiscount.com/gaap-accounting-for-purchase-discounts

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Accounting for Gift Cards Sold at Discount

(2 days ago) I am working with a client who is considering selling gift cards at a discount (e.g., pay $90 for a $100 gift card). I know that when ordinarily accounting for gift cards, you debt cash and credit a gift card liability when the gift card is sold, and then debit gift card liability and credit revenue once the goods are delivered or service has been rendered.

https://www.proformative.com/questions/accounting-gift-cards-sold-discount

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What is the Journal Entry for Discount Received ...

(2 days ago) Discount Received. Discounts are common in both B2B and B2C transactions to push both credit and cash sales, they are usually given in lieu of some consideration which can be prompt payments, trade practices, recoveries, etc.While posting a journal entry for discount received “Discount Received Account” is credited. Discount received acts as a gain for the business and is shown on the ...

https://www.accountingcapital.com/journal-entries/journal-entry-for-discount-received/

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Legal Sites Have Accounting For Discounts Gaap | Home ...

(11 days ago) Accounting for sales discounts — AccountingTools. DISCOUNT (3 days ago) Another common sales discount is "2% 10/Net 30" terms, which allows a 2% discount for paying within 10 days of the invoice date, or paying in 30 days. If a customer takes advantage of these terms and pays less than the full amount of an invoice, the seller records the discount as a debit to the sales discounts account ...

https://avmdiscount.com/accounting-for-discounts-gaap

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Inventory: Discounts – Accounting In Focus

(1 days ago) When working with discounts, we generally calculate the discount and record it at the time of payment. Some textbooks may show you two different methods for recording the discount, one in which the discount is recorded at the time of the purchase and one where the discount is recorded at the time of the payment. I prefer the second method.

https://accountinginfocus.com/financial-accounting/inventory/inventory-discounts/

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Gaap Accounting For Sales Discounts - Find Coupon Codes

(17 days ago) gaap accounting for purchase discounts. CODES (8 days ago) Accounting For Discounts Gaap - Free Coupon Codes (6 days ago) Accounting for sales discounts — AccountingTools. CODES (4 days ago) Another common sales discount is "2% 10/Net 30" terms, which allows a 2% discount for paying within 10 days of the invoice date, or paying in 30 days.

https://www.find-coupon-codes.com/gaap-accounting-for-sales-discounts/

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Accounting for Investment in Bonds | Financial Accounting

(2 days ago) Assume we purchase $50,000 in bonds of ABC Corporation for $45,000 cash. The bonds have a stated interest rate of 10% paid semi-annually and the bond matures in 5 years. To record the purchase of these bonds, we record the amount we actually paid for the bonds (we do not use discount or premium accounts):

https://courses.lumenlearning.com/sac-finaccounting/chapter/accounting-for-investment-in-bonds/

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How to Account for Debt Securities | Accounting Services ...

(3 days ago) The interest method is used to amortize the discount or premium and recognize interest income (FASB Codification 835-30-35-1). The prevailing market rate for similar securities, also called the effective interest rate, at the time of purchase should be used when performing the interest method.

https://aronsonllc.com/how-to-account-for-debt-securities-everything-you-are-dying-to-know-but-were-afraid-to-ask/

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Accounting for Purchased Credit Deteriorated Financial Assets

(3 days ago) After acquisition, recognition of income and expected losses under current and future GAAP also differs. CECL PCD accounting for interest income recognition is consistent with non-PCD acquired or originated loan accounting, except for the treatment of the day 1 purchase discount.

https://www.moodysanalytics.com/risk-perspectives-magazine/managing-disruption/regulatory-review/accounting-for-purchased-credit-deteriorated-financial-assets-current-and-future-gaap

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80% OFF Gaap Discounts On Sales Verified | GetCouponsWorld.com

(1 months ago) Accounting for sales discounts — AccountingTools. COUPON (4 days ago) Another common sales discount is "2% 10/Net 30" terms, which allows a 2% discount for paying within 10 days of the invoice date, or paying in 30 days. If a customer takes advantage of these terms and pays less than the full amount of an invoice, the seller records the discount as a debit to the sales discounts account and ...

https://getcouponsworld.com/gaap-discounts-on-sales

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Accounting Procedures for Product Rebates | Bizfluent

(1 days ago) A rebate is a portion of the purchase price of a product or service that a seller gives back to the buyer. It's typically valid for a specified period. Unlike a discount, which is deducted from the purchase price at the time of sale, a rebate is a refund a purchaser applies for after paying for a product or service.

https://bizfluent.com/info-8346017-accounting-procedures-product-rebates.html

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Contra Expense Account | Double Entry Bookkeeping

(2 days ago) Purchase discounts account; Purchase Return, Allowance, and Discount Contra Expense Accounts. Purchase returns, ... The net balance of the accounts shows the net value of the purchases made by the business for the accounting period. Using the contra expenses accounts, allows information about the original purchases to be maintained on the ...

https://www.double-entry-bookkeeping.com/bookkeeping-basics/contra-expense/

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Negative Goodwill - Overview, Example, and Accounting

(2 days ago) Negative goodwill is an accounting principle that occurs when the price paid for an asset is lower than its value in the market and can be thought of as a “discount” to the buyer. Tangible/Intangible Assets and Negative Goodwill. It is important to distinguish between tangible and intangible assets:

https://corporatefinanceinstitute.com/resources/knowledge/accounting/negative-goodwill/

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What is a Purchase Discount? - My Accounting Course

(3 days ago) Example. Let’s assume Craig’s Retail Outlet purchase $1,000 worth of shirts from a manufacturer with credit terms of 2/10, n/30. Craig will receive a $20 discount if he makes his payment during the 10-day discount period otherwise he will owe the entire $1,000 at the end of the month. This might sound like a small reduction in price, but it can add up if every purchase a retailer makes is ...

https://www.myaccountingcourse.com/accounting-dictionary/purchase-discount

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Accounting Treatment For Debt Securities - Treasury Bills ...

(1 days ago) Accounting Entries For Debt Securities – Treasury Bills & Bond Investment. For Purchase of Treasury Bills & Bond. CR your bank account and DR the investment in T-bill or bond account ( you can even categorise your investments under short or long-term in which treasury bills is classified as short while bond is long) with the cost of investment, including brokers’ charges.

https://accountingsoftware.com.ng/accounting-treatment-for-debt-securities-treasury-bills-bond-investment/

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Accounting for sales discounts — AccountingTools - October ...

(23 days ago) Gaap Accounting For Sales Discounts. Deals 6 days ago gaap accounting for sales discounts.CODES (10 days ago) (1 months ago) gaap accounting for sales discounts: 0 Coupons and 44 Deals.Accounting for sales discounts February 10, 2019 / Steven Bragg A sales discount is a reduction in the price of a product or service that is offered by the seller, in exchange for early payment by the buyer..

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How to Account for Customer Incentives under IFRS - CPDbox ...

(2 days ago) What would happen in the case where a discount is offered indefinitely on future purchase of related goods? For example – if we sold tools for CU 50,000 and as part of this sale offer discounted (consumable) blades (which can only be used with these tools) for CU 20 each (normal price CU 40).

https://www.cpdbox.com/customer-incentives-ifrs/

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Early Payment Discounts Accounting Gaap

(25 days ago) early payment discount accounting treatment us gaap. COUPON (5 days ago) (The seller may refer to the early payment discount as a sales discount. Then credit sales discounts to record the amount of the discount and credit sales tax payable to reduce sales tax owed on the purchase.

https://couponvideos.com/early-payment-discounts-accounting-gaap

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Defined benefit plans: IFRS® Standards vs. US GAAP

(2 days ago) Therefore, the discount rate for a defined benefit plan located in a country without a deep market for high-quality corporate bonds may differ under US GAAP. Further, US GAAP requires selection of assumed discount rates that are consistent with the manner in which benefit payments are expected to be settled (the ‘settlement approach’).

https://advisory.kpmg.us/articles/2019/defined-benefit-plans.html

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Top Sites Have Gaap Recording Sales Discount - Electronics ...

(22 days ago) Gaap Accounting For Sales Discounts - Find Coupon Codes. COUPON (2 months ago) DISCOUNT (13 days ago) Generally accepted accounting principles, or GAAP, set standards for consistency in recording and reporting financial information. Because external audit and tax reports follow GAAP standards, your business most likely already complies with GAAP accounting rules for collecting and reporting ...

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Sites Have Early Payment Discount Accounting Gaap ...

(4 months ago) Purchase Discount in Accounting | Double Entry Bookkeeping. DISCOUNT (3 days ago) If the business pays within 10 days then a 2% purchase discount amounting to 30 can be deducted from the purchase invoice, and the business will pay only 1,470 to settle the supplier account. Purchase Discount Journal Entry. Accounting for purchase discounts requires two journal entries.

https://shopdiscountonline.com/early-payment-discount-accounting-gaap

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M & A and Purchase Accounting - Understanding the Challenges

(1 days ago) However, these transactions bring challenges and complexities with the related purchase accounting. Mergers and acquisitions are accounted for under FASB ASC 805 – Business Combinations. Some of the key accounting requirements under ASC 805 are as follows: The acquired bank’s allowance for loan losses in an acquisition may not be carried over.

https://www.eidebailly.com/insights/articles/ma-and-purchase-accounting-understanding-the-challenges

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