Business, 02.04.2020 00:59 eliarnol9517
Pharoah Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales returns extends 60 days. On February 10, 2021, a customer purchases $4400 of products (cost $2200). Assuming that based on prior experience, estimated returns are 30%. The journal entry to record the expected sales return and cost of goods sold includes aa. credit to Allowance for Sales Returns for $250.b. credit to Returned Inventory for $125.c. debit to Returned Inventory for $125.d. debit to Estimated Inventory Returns for $125.
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Pharoah Choice sells natural supplements to customers with an unconditional sales return if they are...
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