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Keri Co . had sales for the year totaling $ 6 0 , 0 0 0 . Based on experience, management estimates 4 % of
Keri Co had sales for the year totaling $ Based on experience, management estimates of sales will be refunded to customers. Management also estimates $ of inventory will be returned. What is the adjusting journal entry to be recorded for the refund liability?
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
5th edition
134727797, 9780134728643 , 978-0134727790
