Hahn Flooring Company uses a perpetual inventory system. Journalize the December 31 adjusting entries based upon the
Question:
Hahn Flooring Company uses a perpetual inventory system. Journalize the December 31 adjusting entries based upon the following:
A. Sales returns of $125,000 and merchandise returns of $80,000 are estimated for the current year's sales.
B. The inventory account has a balance of $1,333,150, while physical inventory indicates that $1,309,900 of merchandise is on hand. Assume any shrinkage is a normal amount.
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A Dec 31 Sales 125000 Customer Refunds P...View the full answer
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Related Book For 
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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