Business, 06.10.2021 23:10 Smays6903

In August, Landscape Designs sold $590,000 of merchandise; all sales were in cash. The cost of sales for August was $310,000. Based on past experience, Landscape uses an estimated return rate of 5% of sales. Record the journal entries for the monthly sales, cost of sales, estimated returns, and cost of estimated returns for August. (Record debits first, then credits. Exclude explanations from any journal entries.)

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In August, Landscape Designs sold $590,000 of merchandise; all sales were in cash. The cost of sales...