Question
Pioneers companysells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales returns period extends 60 days. On February
"Pioneers companysells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales returns period extends 60 days. On February 10, 2018, a customer purchases 4,000 of products (cost 2,000). Assuming that based on prior experience, estimated returns are 20%. The journal entry to record the actual return of 250 of merchandise according to IFRS 15includes a:"
a- credit to Allowance for Sales Returns for 250
b- debit to Estimated Inventory Returns for 125
c- credit to Inventory for 125
d- debit to Inventory for 125
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