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. The year-end adjusting journal entry to account for anticipated sales return would include?

Answer rating: 100% (QA)

To account for the anticipated sales returns at the end of the period the following adjusting journa... View the full answer