Recorded sales of $21900000 and experienced returns of $1,280,000. Cost of goods sold totaled $15,330000(70%...

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Accounting

Recorded sales of $21900000 and experienced returns of $1,280,000. Cost of goods sold totaled $15,330000(70% of sales). The company estimates that 7% of all sales will be returned. Assuming that is the first year of operatios, Following adjusting entry should include

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