Question: i need help with accounting class Adjustment for Customer Refunds and Returns Assume the following data for Alpine Technologies for the year ending July 31,
i need help with accounting class
Adjustment for Customer Refunds and Returns Assume the following data for Alpine Technologies for the year ending July 31, 20Y2. Sales Estlmated percent of sales expected to be refunded or issued an allowance in 20Y3 Estimated cost of inventory expected to be returned in 20Y3 S6,000 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. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. $900,000o 1.5% Balance Sheet Statement of Cash + Stockholders' Equity Statement Assets Liabilities Flowscash + Estimated Returns Inventory - Customer Refunds Payable Retained Earnings Statement of Cash Income Statemen Flows Cost of goods sold
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