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dexar [7]
3 years ago
11

Oriole Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales ret

urns period extends 60 days. On February 10, 2021, a customer purchases $3100 of products (cost $1550). Assuming that based on prior experience, estimated returns are 30%. The journal entry to record the actual return of $160 of merchandise includes a
Business
1 answer:
Vlad1618 [11]3 years ago
7 0

Answer: See explanation

Explanation:

The journal entry to record the actual return of $160 of merchandise includes:

Debit Sales return and allowance $160

Credit Account receivable $160

Debit Returned Inventory $80

Credit Cost of goods sold $80

Note:

Returned inventory was calculated as:

= $160 × (1550/3100)

= $160 × 0.5

= $80

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Letter d is correct. <u>Coping behavior.</u>

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The most suitable alternative to the question is the letter d.

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If the price elasticity of demand for a product is 2. 5, then a price cut from $2. 00 to $1. 60 will:_______
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Increase the quantity demanded by about 25 percent.

<h3>What is the short definition of price elasticity?</h3>
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2. All of the above

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