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Adjusting Entries for Customer Refunds and Allowances Assume the following data for Oshkosh Company before its year-end adjustments: Sales $51,600,000 1.2% Estimated percent of refunds

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Adjusting Entries for Customer Refunds and Allowances Assume the following data for Oshkosh Company before its year-end adjustments: Sales $51,600,000 1.2% Estimated percent of refunds and allowances for current year sales Journalize the adjusting entry for customer refunds and allowances. If an amount box does not require an entry, leave it blank. Sales Customer Refunds Payable 619,200

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