How do sales allowances differ from sales discounts

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Reference no: EM131261085

1. What are sales allowances? How do sales allowances differ from sales discounts?

2. What are trade discounts and quantity discounts? From an accounting viewpoint, how does the effect of trade and quantity discounts on selling (or invoice) price differ from the effect of sales discounts?

3. What documents must be present to trigger the recording of a sale (and associated receivable) in the accounting records?

Reference no: EM131261085

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