Assume the following data for Alpine Technologies for the year

Assume the following data for Alpine Technologies for the year ending July 31, 20Y2.
Sales ............................................................................................$900,000
Estimated percent of sales expected to be refunded or issued an allowance in 20Y3....1.5%
Estimated cost of inventory expected to be returned in 20Y3...............................$6,000
Illustrate the effects of the adjustments for customer refunds and returns on the accounts and financial statements of Alpine Technologies for the year ended July 31, 20Y2.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

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