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Help plz (clear answer) Oriole Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales returns extends
Help plz (clear answer)
Oriole Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales returns extends 60 days. On February 10, 2021, a customer purchases on account $4300 of products (cost $2150 ). Assuming that based on prior experience, estimated returns are 10%. The journal entry to record the expected sales return includes a debit to Cash and a credit to Sales Revenue of $4300. credit to Estimated Inventory Returns of $215. debit to Cost of Goods Sold and credit to Inventory for $2150Step by Step Solution
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