ABC limited sells electronic goods. In the month of January, the company sold goods worth...
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Accounting
ABC limited sells electronic goods. In the month of January, the company sold goods worth sh 1,840,000 inclusive of 16% VAT. In addition customers earned loyalty points which are redeemable. For every sh 100 spent, a customer earned 8 points which can be redeemed for goods or services at a ratio of sh 2.5 per point. Required; Analyze the above transactions and prepare the adjusting journal entries
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