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fill in the journal entry fill in the description for the journal entry of 9 and 10 only. Anticipate further returns of merchandise after year-end
fill in the journal entry
fill in the description for the journal entry of 9 and 10 only.
Anticipate further returns of merchandise after year-end from $380 sales made during the year. Record the entry. Note: Enter debits before credits. The anticipated merchandise returns have a cost of $260. Record the entry. Note: Enter debits before credits. Required information [The following information applies to the questions displayed below] Ross \& Company is a wholesaler of hair supplies. Ross uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $33,117 ). b. Received merchandise returned by custoners as unsatisfactory (but in perfect condition) for cash refund (original cost of werchandise \$340). c. Sold merchandise (costing $8,179 ) to a custoaer on account with teras n/6. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit soles the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing \$260) after year-end from sales made during 358,889 370 17,200 8,660 184 the year. 380 3. Prepare journal entries to record transactions (a) (h). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Step by Step Solution
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