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Sandhill Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales return period extends 6 0 days.
Sandhill Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales return period extends days. On February a customer purchases $ of products cost $ Assuming that based on prior experience, estimated returns are The journal entry to record the expected sales return and cost of goods sold includes a
debit to Sales Returns and Allowances of $ and a credit to Cost of Goods sold of $
credit to Estimated Inventory Returns of $
debit to Cash and a credit to Sales Revenue of $
debit to Cost of Goods Sold and credit to Inventory for $
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