Examples of cash equivalents include all of the following EXCEPT: a. U. S. Treasury bills.
b. Notes issued by major corporations.
c. Money market funds.
d. Long-term notes receivable.

For the year ended december 31, 2019, davidson mart had sales of $ 550 comma 000 and cost of goods sold of $ 412 comma 500. davidson estimates that approximately 2% of the merchandise sold will be returned. the adjusting journal entry on december 31, 2019, would include a