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Does starbucks record the effect of these returned products

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Reference no: EM131911519

Starbucks permits customers to return any item for any reason within 60 days of sale. Starbucks estimates that 18% of its sales in May 2017 will be returned in July 2017.

According to GAAP, does Starbucks record the effect of these returned products on its income statement in 2017 or 2018? Briefly explain why.

Reference no: EM131911519

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