What is the balance in the allowance for sales returns a/c, Accounting Basics

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What is the balance in the allowance for sales returns a/c

False Value Hardware began 2009 with a credit balance of $32,000 in the allowance for sales return account. Sales and cash collections from customers during the year were $650,000 and $610,000 respectively. False value estimates that 6% of all sales will be returned. During 2009, customers returned merchandise for credit of $28,000 to their accounts. What is the balance in the allowance for sales returns account at the end of 2009?

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Accounting Basics: What is the balance in the allowance for sales returns a/c

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False value estimates that 6% of all sales will be returned. During 2009, customers returned merchandise for credit of $28,000 to their accounts. What is the balance in the allowance for sales returns account at the end of 2009?

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Accounting Basics: What is the balance in the allowance for sales returns a/c

Reference No:- TGS092088

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Recent Questions Asked Accounting Basics

Q : What was the overall variable overhead efficiency

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Q : Disposing of old or dead cells is called phagocytosis

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Q : What is the balance in the allowance for sales returns a/c

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the balance in the allowance for sales returns a/c

Reference No:- TGS092088

Recent Questions Asked Accounting Basics

Q : What was the overall variable overhead efficiency

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Q : What is the balance in the allowance for sales returns a/c

Q : The anatomic defensive barrier by weakening epithelial

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