sales returns and allowances

sales returns and allowances definition - business

sales returns and allowances

An entry on the income statement to account for the value of goods that are returned by customers. Sales returns and allowances is subtracted from gross sales in the calculation of net sales.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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