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Under contract, Sojourn Co. delivers 2,200 units to Customer A for $30 each on 1 April. Sojourn's documented policy is to allow a customer to
Under contract, Sojourn Co. delivers 2,200 units to Customer A for $30 each on 1 April. Sojourn's documented policy is to allow a customer to return any unused product within 90 days and receive a full refund. The cost of each product is $21. On the basis of historical experience, Sojourn estimates that 4% of the units will be returned. Sojourn expects that the returned products can be resold. Required: Record the journal entries to be made by Sojourn on 1 April to recognize the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the contract to deliver 2,200 units to Customer A. Note: Enter debits before credits. Date General Journal Debit Credit April 01 Record entry Clear entry View general journal Journal entry worksheet
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