Question: Customer Refunds Payable is a . a liability account for estimated errors in refunds and allowances that will be granted to customers in the future.

Customer Refunds Payable is
a. a liability account for estimated errors in refunds and allowances that will be granted to customers in the future.
b. an owner's equity account reducing equity.
c. a liability account for estimated refunds and allowances that will be granted to customers in the future.
d. None of these choices are correct.

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