False value hardware began 2018 with a credit balance of $23,000 in the allowance for sales returns account (i. e., the estimated return liability). sales and cash collections from customers during the year were $680,000 and $720,000, respectively. false value estimates that 4% of all sales will be returned. during 2018, customers returned merchandise for credit of $32,000 to their accounts. what is the balance in the allowance for sales returns account at the end of 2018?
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Business, 21.06.2019 20:50
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Business, 22.06.2019 04:30
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Answers: 1
False value hardware began 2018 with a credit balance of $23,000 in the allowance for sales returns...
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