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B . Lopez Company reports unadjusted first - year sales of $ 2 0 0 , 0 0 0 and cost of sales of $
B Lopez Company reports unadjusted firstyear sales of $ and cost of sales of $ The company expects future returns and allowances equal to of sales and cost of sales. Prepare the yearend adjusting journal entry for future returns and allowances related to cost of sales.
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