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Business, 16.04.2020 22:03 elizabethhubbe

The records of Garden Company indicate sales of $900,000, cost of goods sold of $500,000, an ending inventory balance of $100,000, and estimated returns of 1% of sales. The adjusting journal entries to record estimated returns will include a:

a. credit to Sales for $9,000.

b. credit to Customer Refunds Payable for $5,000.

c. debit to Inventory for $5,000.

d. debit to Sales for $9,000.

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The records of Garden Company indicate sales of $900,000, cost of goods sold of $500,000, an ending...

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