Question: Question1...What is the difference between a sales return and a sales allowance? 1. A sales return reduces the amount receivable from the customer, but an

Question1...What is the difference between a sales return and a sales allowance?

1. A sales return reduces the amount receivable from the customer, but an allowance does not.

2. A sales allowance is deducted from Sales revenue to calculate net sales, but a sales return is not.

3. A sales return requires a debit to Sales returns and allowances, but a sales allowance does not.

4. A sales return involves an adjustment to Inventory, but a sales allowance does not.

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