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9 Gonzalcz Co. records estimated future sales returns and allowances. Total sales amount to $1,550,000, and, in the past, sales returns and allowances have been

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9 Gonzalcz Co. records estimated future sales returns and allowances. Total sales amount to $1,550,000, and, in the past, sales returns and allowances have been 2 1/2% of sales Required Prepare journal entries to: Record the estimated sales returns and allowances. a. b. Record the return of $1,000 of defective furniture

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