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Make the journal entry for pharoah-air on april

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Pharoah-Air is selling a new model of high-efficiency air conditioner. To stimulate interest, Pharoah-Air is granting certain large customers the unconditional right to return these air conditioners if not fully satisfied. The right of return extends for six months. Pharoah-Air estimates returns of 9%. Pharoah-Air sells these air conditioners on account for $20,790,000 (cost $9,355,500) on April 2, 2017. Customers are required to pay the full amount due by June 15, 2017.

Question 1: The journal entry for Pharoah-Air on April 2, 2017. Use the gross method to record sales.

Reference no: EM132597314

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