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How Do You Account For Sales Returns And Allowances?

January 24, 2024 by Jasmine Sibley

How Do You Account For Sales Returns And Allowances? In the sales revenue section of an income statement, the sales returns and allowances account is subtracted from sales because these accounts have the opposite effect on net income. Therefore, sales returns and allowances is considered a contra‐revenue account, which normally has a debit balance. How

What Affects The Bottom Line?

January 24, 2024 by Ahmed Ali

What Affects The Bottom Line? This may be done by increasing production, lowering sales returns through product improvement, expanding product lines, or increasing product prices. Other income such as investment income, interest income, rental or co-location fees collected, and the sale of property or equipment also increase the bottom line. What are three areas that