Question
Wand World sells wands to customers. Customers are allowed to return the wands within 2 months from the date of the purchase. During the
Wand World sells wands to customers. Customers are allowed to return the wands within 2 months from the date of the purchase. During the month of June, Wand World sold 230 wands but expects that 5% will be returned within the allowed time period. Each wand costs $10 and is sold to the customers for $30. Assuming that the expected amount is returned, what is the journal entry Wand World would make to record the returns? Round to the nearest dollar. Debit [Select] [Select] Credit [Select] v [Select] Debit [Select] [Select] Credit Select] [Select]
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