The entries are as follows
<u>To record estimated returns on Sales</u>
Debit: Sales Refund Payable Account $142,800
Credit: Accounts Receivables $142,800
<u>To record estimated Cost of Sales returns</u>
Debit: Inventory Returns Estimated Account $85,400
Credit: Inventory on Sales on Returns $85,400
<u>Explanation:</u>
<u>To derive the figure for Sales Refund payable for the year</u>
7% of $2,040,000
=7/100*2040000= $142,800
<u>To derive the figure for Inventory cost on Sales Refund payable for the year
</u>
7% of $1,220,000
=7/100*1220000
= $85400
C. an employee workin on a piece-rate basis
Given:
marginal factor cost of 75 per day after hiring 2nd worker.
market wage is now 62.50 per day for both workers.
62.50 x 2 workers = 125
125 - 75 marginal factor cost = 50
The first employee earns 50 per day when she worked alone.
<span>You can estimate your tax liability through proper financial planning.</span>
The answer to the following question:
<span>One way yo u can grow as an employee is seek _____wich can both positive or negative information about your performance.
is:
evaluation/feedback</span>