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Diifferenciate between a sales return and a sales allowance

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Reference no: EM131537218

Question: 1. What is the difference between a sales return and a sales allowance?

2. What is the source document for journalizing sales returns and allowances?

3. What general ledger accounts are affected, and how, by a sales returns and allowances transaction?

4. Why are sales returns and allowances not debited to the Sales account?

Reference no: EM131537218

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