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1. Ramenofsky Noodles also sells noodles but at a much better price to way more customers. During the month of September, RN+ recorded revenue of
1. Ramenofsky Noodles also sells noodles but at a much better price to way more customers. During the month of September, RN+ recorded revenue of $850,000. Of these sales, $500,000 were made on account. Gross margin is 30%. a. RN+ estimates 1% of total sales will be returned. Record the AJE at the end of September to account for estimated sales returns: b. RN+ estimates that 2% of credit sales will not be collected. Record the AJE to account for estimated uncollectibles: C. In October, RN+ learns that one of its customers with an outstanding balance of $1,200 will not be paying. Record the JE to write-off the amount: d. In one sentence, describe how the write-off impacted RN+'s earnings: e. Explain in one sentence what 3/15, n30 means
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