$-1($i$)$

Halifax Manufacturing allows its customers to return merchandise for any reason and receive a credit to their accounts. All of Halifax's $2024,$ Halifax sold merchandise on account for $$13,000,00.$ Hals with $$283,000$ of those being returns $2024,$ and the rest being merchandise sold durng at the end of the year.

Required:

Prepare entries to $($a$)$ record actual returns in $2024$ of merchandise that was sold prior to $2024$; $($b$)$ record actual returns in $2024$

What is the amount of the year$-$end refund liability

Complete this question by entering your answers in the tabs below.

Required $1$ merchandise that was sold during $2024$; and $($c$)$ adjust the refund liabal entry required" in the firse at year end.

Note: If no entry is required for a transaction$/$event$,$ select

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Journal entry worksheet

$1,$

$\backslash$table$[[2,3,4,5,6]]$

Record the actual sales return of merchandise sold prior to $2024.$