ProBuilder reports merchandise sales of $50,000 and cost of merchandise sales of $20,000 in its first year
Question:
a. Prepare the June 30, 2016, fiscal-year-end adjusting journal entry for future returns and allowances related to sales.
b. Prepare the June 30, 2016, fiscal-year-end adjusting journal entry for future returns and allowances related to cost of sales.
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Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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