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Please help correct the incorrect answers in my Balance sheet for question A. Revenue Recognition and Sales Allowances Target Corporation reported the following on Target
Please help correct the incorrect answers in my Balance sheet for question A.
Revenue Recognition and Sales Allowances Target Corporation reported the following on Target Corporation reported the following on its income statement ... uary 2, 2019, includes the following. - We record almost all retail store revenues at the point of sale. - Digital channel sales include shipping revenue and are recorded upon delivery to the guest or upon guest pickup at the store - Total revenues do not include sales tax because we are a pass-through conduit for collecting and remitting sales taxes. Required a. Use the financial statement effects template to record retail cash sales of $1,000 in a state with a sales tax rate of 8%. For this question, assume 10% of all merchandise sold is returned within 90 days. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transactionStep by Step Solution
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