Business, 24.04.2020 18:29 annyarias5209
False Value Hardware began 2021 with a credit balance of $32,000 in the refund liability account. Sales and cash collections from customers during the year were $650,000 and $610,000, respectively. False Value estimates that 6% of all sales will be returned. During 2021, customers returned merchandise for credit of $28,000 to their accounts. What is the balance in the refund liability account at the end of 2021?
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False Value Hardware began 2021 with a credit balance of $32,000 in the refund liability account. Sa...
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