Indigo Company sold 720 geospatial tracking units to Marigold Company for $504 each. Marigold has 60 days

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Indigo Company sold 720 geospatial tracking units to Marigold Company for $504 each. Marigold has 60 days to return the unused goods. Indigo believes that a good estimate of total items that will be returned by Marigold is 72 units. Prior to Indigo's year end, Marigold has returned 42 units. Marigold still has 25 days to make returns.

What amount should Indigo in the Refund Liability account related to this activity on its year-end balance sheet?

Related Book For answer-question

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

ISBN: 978-1337614689

9th edition

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

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Posted Date: Jul 17, 2023 06:41 AM

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Indigo Company sold 720 geospatial tracking units to Marigold Company for $504 each. Marigold has 60 days

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The amount that Indigo should record in the Refund Liability account related to this a... View the full answer

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

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