Chart Insert Table Text Shape Media Comment Lets explain what is the difference between a merchandiser and a service organization. What new accounts do we see in this chapter and what do they represent? What is the revenue account we use when selling something? Why do we keep a separate sales returns and allowances account? Why are sales discounts given? Note that as the buyer we treat differently in our entry. Why does the sales entry often show a second part to it - a second entry to record the transaction. When we see this second part, what kind of inventory system must we be using