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Wildhorse Corporation estimates that approximately 6% of its $3.20 million of trade receivables outstanding will be returned or a similar adjustment will be made to
Wildhorse Corporation estimates that approximately 6% of its $3.20 million of trade receivables outstanding will be returned or a similar adjustment will be made to the sales price. What journal entry should Wildhorse make to show expected sales returns and allowances under IFS versus ASPE? (Credit account titles are automatically indented when the amount is entered. List all debit entries before credit entries.)
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