question 16

Stergell Company had sales of $1,500,000 and related cost of goods sold of $920,000 for the year. Stergell estimates that customers will request refunds for 1.5% of sales and estimates that merchandise costing $12,000 will be returned.

Journalize the adjusting entries on December 31 to record the expected customer returns. If an amount box does not require an entry, leave it blank.

Dec. 31		fill in the blank 2	fill in the blank 3
		fill in the blank 5	fill in the blank 6
Dec. 31		fill in the blank 8	fill in the blank 9
		fill in the blank 11	fill in the blank 12