Business, 27.03.2020 02:24 abelxoconda

False Value Hardware began 2021 with a credit balance of $32,000 in the refund liability account. Sales and cash collections from customers during the year were $640,000 and $600,000, respectively. False Value estimates that 6% of all sales will be returned. During 2021, customers returned merchandise for credit of $19,000 to their accounts. What is the balance in the refund liability account at the end of 2021

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False Value Hardware began 2021 with a credit balance of $32,000 in the refund liability account. Sa...

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