Some states employ a sales tax, which is a percentage of total sales posted by the company. As some companies employ a discount on some items, this reduces to total amount of tax dollars owed to the ...

Customers often return defective and damaged products to retailers. The difference between gross sales and net sales is the balance in the "sales returns and allowances" account. Companies account for ...

Discounts are reductions of the regular price of a product or service in order to obtain or increase sales. These discounts—also commonly referred to as “sales” or markdowns—are utilized in a wide ...