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Assume the following data for Alpine Technologies for the year ending July 31, 20Y2. $900,000 Sales Estimated percent of sales expected to be refunded or

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Assume the following data for Alpine Technologies for the year ending July 31, 20Y2. $900,000 Sales Estimated percent of sales expected to be refunded or issued an allowance in 20Y3 Estimated cost of inventory expected to be returned in 20Y3 1.5% $6,000 Illustrate the effects of the adjustments for customer refunds and returns on the accounts and financial statements of Alpine Technologies for the year ended July 31, 20Y2

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