Beethoven music company started business in march 2016. sales for its first year were $420,000. beethoven priced its merchandise to yield a 35% gross profit based on sales dollars. industry statistics suggest that 10% of the merchandise sold to customers will be returned. beethoven estimated its sales returns based on the industry average. during the year, customers returned $31,000 in sales. beethoven uses a perpetual inventory system. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.) required: prepare the journal entry to record the sale.

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.