Sales is a revenue account. O True False The time frame when customers are allowed to pay their bills and still be eligible for a discount is the: OA. discount period. OB. credit period. OC. short period. OD. 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? A. $109,000 OB. $111,500 OC. $122,500 OD. $106,500 Sales discounts are NOT taken on which of the following? OA. Freight OB. Merchandise returned OC. Sales Tax OD. Sales Discounts are not taken on any of the above.