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Merchandising: Purchases, Sales, Discounts, Returns and Allowance

Author: Evan McLaughlin

Source: Instrumental “Drops of H2O ( The Filtered Water Treatment )" by J.Lang (feat. Airtone),” Creative Commons, http://ccmixter.org/files/djlang59/37792

Video Transcript
Terms to Know
Allowance

A deduction given to a customer or business when merchandise purchased is flawed or inferior and the customer or business chooses to keep the merchandise.

Return

Credit, if credit sale, or cash refund, if cash sale, given to a customer or business when merchandise purchased is flawed or inferior and the customer or business chooses not to keep the merchandise.