Halifax manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. all of halifax's sales are for credit (no cash is collected at the time of sale). the company began 2021 with a refund liability of $410,000. during 2021, halifax sold merchandise on account for $12,600,000. halifax's merchandise costs it 65% of merchandise selling price. also during the year, customers returned $491,000 in sales for credit, with $271,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. sales returns, estimated to be 4% of sales, are recorded as an adjusting entry at the end of the year. required: 1. prepare entries to (a) record actual returns in 2021 of merchandise that was sold prior to 2021; (b) record actual returns in 2021 of merchandise that was sold during 2021; and (c) adjust the refund liability to its appropriate balance at year end. 2. what is the amount of the year-end refund liability after the adjusting entry is recorded?

Experienced problem solvers always consider both the value and units of their answer to a problem. why?

Read the overview below and complete the activities that follow.apartment complexes often look for ways to recruit new tenants and retain current tenants. although apartment complexes offer the tangible benefit of shelter to their tenants, many apartment complexes also offer additional services to tenants to encourage tenants to stay or to support the rent prices. the following scenario identifies the several service gaps of a company that runs an apartment complex as well as solutions for reducing these service gaps.concept review: customers have certain expectations about how a service should be delivered. a service gap occurs when the delivery of a service fails to meet customer expectations. there are four types of service gaps: knowledge gap, standards gap, delivery gap, and the communications gap. it is important for marketers to identify these gaps and develop strategies for minimizing them.match the example or solution to the appropriate service gap category.1. wait for repairs 5. train employees well2. understand expectations 6. incentives for tenants3. do not overpromise 7. family movie night4. empower employees 8. delayed lawn careservice gap example solutionknowledge gap standards gap delivery gap communication gap

True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.