In its first year of business, Laker Corporation had sales of $ 2 , 0 1 0 , 0 0 0 and cost of goods sold of $ 1 , 2 0 5 , 0 0 0 Laker expects returns in the following year to equal 7 of sales and 7 of cost of goods sold The adjusting entry or entries to record the expected sales returns is ( are )

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In its first year of business, Laker Corporation had sales of $ 2 , 0 1 0 , 0 0 0 and cost of goods sold of $ 1 , 2 0 5 , 0 0 0   Laker expects returns in the following year to equal 7   of sales and 7   of cost of goods sold  The adjusting entry or entries to record the expected sales returns is ( are )

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In its first year of business, Laker Corporation had sales of $ 2 , 0 1 0 , 0 0 0 and cost of goods

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