After making a sale, a seller may have customers that return goods. The seller uses the perpetual inventory system. This requires the seller to . A. reduce sales and cost of goods sold for the period
B. use historical data to record sales revenue in the amount that is expected to be received
C. record two adjusting entries to account for the estimated returns
D. All of the statements are correct.

Afirm wants to strengthen its financial position. which of the following actions would increase its current ratio? a. reduce the company's days' sales outstanding to the industry average and use the resulting cash savings to purchase plant and equipment.b. use cash to repurchase some of the company's own stock.c. borrow using short-term debt and use the proceeds to repay debt that has a maturity of more than one year.d. issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash.e. use cash to increase inventory holdings.