In Dec 1st, 2021, Avocadco. sold $100,000 of avocados to Toast Inc. Toast Inc. pays $100,000 cash

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In Dec 1st, 2021, Avocadco. sold $100,000 of avocados to Toast Inc. Toast Inc. pays $100,000 cash for the sale on Dec 1st. The merchandise cost Avocadco. $60,000 to manufacture. Avocadco estimates that 20% of all sales are returned. On Jan 12^nd, 2022, Toast Inc. returns $10,000 of sales. The avocados returned by Toast Inc. are spoiled and cannot be resold.

Provide the transactional journal entries for Avocadco on Dec 1st, 2021

Provide the adjusting entries on Dec 31^st 2021

Provide the transactional journal entries on Jan 2^nd, 2022

Posted Date: Dec 09, 2021 04:56 PM

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In Dec 1st, 2021, Avocadco. sold $100,000 of avocados to Toast Inc. Toast Inc. pays $100,000 cash

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Solution Date Accounts Debit Credit Dec 1 2021 Cash 100000 S... View the full answer

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