Question: Remaining Time: 1 hour, 55 minutes, 26 seconds. Question Completion Status: JJ Corporation has the following unadjusted balances: Accounts Receivable, $96,000 (debit), and Allowance for
Remaining Time: 1 hour, 55 minutes, 26 seconds. Question Completion Status: JJ Corporation has the following unadjusted balances: Accounts Receivable, $96,000 (debit), and Allowance for Sales Discounts $460 (credit). Of the receivables, $66,000 of them are within the 4% discount period, and JJ expects buyers to take $2,640 in future period discounts ($66,000 x 496) arising from this period's sales. The adjusting entry or entries to estimate sales discounts is (are) Credit Account Title Accounts Receivable Sales Debit 96.000 A 96.000 Credit Debit 66.000 Account Title Sales Discounts Sales Cost of Goods Sold B. 66,000 2.640 Inventory Returns Estimated 2,640 Debut Credit Account Title Sales Discounts Allowance for Sales Discounts 2.180 2 180 Credit Account Title Sales Discounts Accounts Receivable Debit 2.640 2.640 Account Title Debit Credit 2.640 Sie uns Allace for Sales Discounts 2,640 Click Save and SSH teatre
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