Question: 1. What is the difference between the journal entries for when the buyer pays for shipping and when the seller pays for shipping? 2. What

1. What is the difference between the journal entries for when the buyer pays for shipping and when the seller pays for shipping?

2. What is the difference between the journal entries for when the buyer takes advantage of a discount and when the seller grants a discount?

3. What account should the buyer focus on to determine a the amount of a potential discount when paying an invoice?

4. What account should the seller focus on to determine a potential sales discount when receiving payment from a customer?

5. What is the difference between a sales return and a sales allowance?

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