subject
Business, 18.02.2021 19:50 stuckonquestions

In the current year, Borden Corporation had sales of $2,140,000 and cost of goods sold of $1,270,000. Borden expects returns in the following year to equal 6% of sales. The unadjusted balance in Inventory Returns Estimated is a debit of $20,000, and the unadjusted balance in Sales Refund Payable is a credit of $24,000. The adjusting entry or entries to record the expected sales returns is (are):

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 08:40
The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.
Answers: 1
question
Business, 22.06.2019 10:20
Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.
Answers: 2
question
Business, 22.06.2019 16:30
Who got instagram! ? if you do give it to me
Answers: 1
question
Business, 22.06.2019 18:20
Principals are an administration career
Answers: 2
You know the right answer?
In the current year, Borden Corporation had sales of $2,140,000 and cost of goods sold of $1,270,000...
Questions
question
Mathematics, 23.03.2021 15:20
question
Biology, 23.03.2021 15:20
question
Arts, 23.03.2021 15:20
Questions on the website: 13722362