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What the year-end adjusting journal entry

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Question - During 2021, its first year of operations company A recorded sales of $18,000,000 and experienced returns of $720,000. Returns are accounted for as they occur with additional estimated returns accrued at the end of the period. The company estimates that 6% of all sales will be returned. What the year-end adjusting journal entry to account for anticipated sales return?

Reference no: EM133113127

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