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Author Question: Sassycat, Inc. issued a credit memorandum to Cheshire Co. for $300 of merchandise, with associated ... (Read 420 times)

joesmith1212

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on: Feb 18, 2020
Sassycat, Inc. issued a credit memorandum to Cheshire Co. for $300 of merchandise, with associated costs of $125. Sassycat's journal entry to record the sales return would include:
◦ debit Estimated Refund Liability $125, credit Accounts Receivable — Cheshire $125.
◦ debit Inventory $300, credit Estimated Inventory Returns $300.
◦ debit Inventory $175, credit Estimated Inventory Returns $175.
◦ debit Estimated Refund Liability $300, credit Accounts Receivable — Cheshire $300.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by joesmith1212 on Feb 18, 2020

huda

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Katie Coutts

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Reply #2 on: Sep 24, 2020
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