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Business, 06.08.2019 04:30 okitsfrizz6366

For the year ended december 31, 2019, davidson mart had sales of $800,000 and cost of goods sold of $600,000. davidson estimates that approximately 2% of the merchandise sold will be returned. the adjusting journal entry on december 31, 2019, would include
a) credit to refunds payable for $40,000
b) debit to cost of goods sold for $30,000
c) debit to sales revenue for $10,000
d) credit to estimated returns inventory for $ 3

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For the year ended december 31, 2019, davidson mart had sales of $800,000 and cost of goods sold of...
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