100,000,000 /10% = 10,000 which these means that 8 months is 10,000 know if you ask how much months 10,000 / 8 moths is 1,250
Answer:
See explanation section.
Explanation:
December 31, 20Y8 Sales Debit $72,300
Customer Refunds Payable Credit $72,300
Note: Calculation: $12,050,000 × 0.6% = $72,300
(As the customers requested refunds for 0.6% of sales, we have to deduct it from total sales to give refund.)
December 31, 20Y8 Estimated Returns Inventory Debit $53,000
Cost of goods sold Credit $53,000
Note: As the returned products had the cost of sales, we have to give cost of goods sold journal assuming the company used perpetual inventory system.
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There are 52 weeks in a year, so you will make 300 x 52, which equals 15,600 a year
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