Sales is a revenue account. O O True False The time frame when customers are allowed to pay their bills and still be eligible for a discount is the: O A. discount period. O B. credit period. O C. short period O D. allowance period. B&B Lumber reports gross sales of $120,000. If sales returns and allowances are $11,000 and sales discounts are $2,500, what are the net sales? O A $109,000 O B. $111,500 OC. $122,500 OD. $106,500 Sales discounts are NOT taken on which of the following? O A. Freight OB. Merchandise returned O c. Sales Tax OD. Sales Discounts are not taken on any of the above