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Business, 18.06.2020 18:57 neariah24

In August, Intricate Designs sold $ 520,000 of merchandise; all sales were in cash. The cost of sales for August was $ 390,000. Based on past experience, Intricate uses an estimated return rate of 2% of sales. Record the journal entries for the monthly sales, cost of sales, estimated returns, and cost of estimated returns for August.

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In August, Intricate Designs sold $ 520,000 of merchandise; all sales were in cash. The cost of sale...
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