Stergell Company had sales of $1,500,000 and related cost of goods sold of $920,000 for the year. Stergell estimates that customers will request refunds for 1.5% of sales and estimates that merchandise costing $12,000 will be returned. Journalize the adjusting entries on December 31 to record the expected customer returns. If an amount box does not require an entry, leave it blank. Dec. 31 - Select - - Select -
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Dec. 31 - Select - - Select -
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Tony is a wheat farmer, but he also spends part of his day teaching guitar lessons, due to the popularity of his local country western band, farmer tony has more students requesting lessons than he has time for if he is to also maintain his farming business. farmer tony charges $25 an hour for his guitar lessons. one spring day, he spends 10 hours in his fields planting $130 with of seeds on his farm. he expects that the seeds he planted will yield $300 worth of wheat a. 130 b. 260 c. 170 d. $-80