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Assigned to Question Help O Journare the following sales transactions for Boston Sportswear Explanations are...

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Assigned to Question Help O Journare the following sales transactions for Boston Sportswear Explanations are not required. The company estimates sales returns at the end of each monthsame the company uses a perpetua inventory system and record sales at the net amount) Click the icon to view the transactions) Start by preparing the entry to record the sales return and round of cash Do not update the Merchandise Inventory with this entry we will do that in the following step Date Accounts Debit Credit Jan 5 Refunds Payable 1.000 More info - X Cash 100 Boston sold 530 000 of men's sporta for cash Cost of goods sold is $21.000 Boston received a $1.000 sales return on damaged goods from the customer on January 1 Cast of goods Jans Now prepare the entry to update the Merchandise Inventory account for the cost of the returned Date Accounts Debit Crede Jans Print

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