Difference between sales return and allowances?

Answer 1

i guess paying attention in my accounting class if finally paying off.  here is a quick one, Sales Discount is given if the customer/client pays within a specified time. Example: if you pay your bill in the first 15 days you will receive a 1% discount, the full amount must be paid within 30 days. Terms: 1/15 n/30

Sales Allowance is given if there is something wrong with the merchandise, or to show customer that you value their business or you did not deliver or time etc.

Sale return and allowances both effect the net sales. Sales Discount is a contra Revenue account Subtracted from Sales Returns /Allowance to arrive at Net Sales.