Question 12. Sales returns are estimated to be a percentage of current receivables only. Make...
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Question 12. Sales returns are estimated to be a percentage of current receivables only. Make the journal entry to estimate the amount of sales retums, Ourrent receivables 162,000 3% Sales returns are estimated to be a percentage of current receivables only. Older receivables had already been figured in during earlier months, Question 13. A customer retumed something that customer had bought. Make the journal entry for the return by the customer Money amount of what we returned by.customer 515 Question 14. A customer who had bought something paid us, and validly took the discount for paying within the discount period. We had recorded the sale at the gross price on the sales invoice. Here is the gross amount of the sales invoice. 800 The terms on the sales invoice allow a two percent discount if paid within the discount period
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