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Bramble tools sold 10 units of merchandise inventory on account for $830 each which cost $370 each. Bramble has a stated policy that products may
Bramble tools sold 10 units of merchandise inventory on account for $830 each which cost $370 each. Bramble has a stated policy that products may be returned within 20 days of the sale. Based on past experience the company estimates returns to be 10% of sales. Assuming the company uses a periodic inventory system and the earnings approach, what journal entry would be recorded for the sale
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