For the year ended december 31, 2019, davidson mart had sales of $800,000 and cost of goods sold of $600,000. davidson estima

Question

3 years ago

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tes that approximately 2% of the merchandise sold will be returned. the adjusting journal entry on december 31, 2019, would include a _______.

1 answer:

Degger [83] · Answer 1 · 2022-03-08T17:23:09+03:00

5 0

Adjusting journal entry on December 31, 2019 is as follows:
Debit - Sales Returns and allowances - 16,000.00
Credit - Accounts Receivable - 16,000.00

For the year ended december​ 31, 2019, davidson mart had sales of​ $800,000 and cost of goods sold of​ $600,000. davidson estima