INTERMEDIATE ACCOUNTING(LL)+ACCESS
17th Edition
ISBN: 9781119503583
Author: Kieso
Publisher: JOHN WILEY+SONS INC.
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Accurate Value Hardware began in 2019 with a credit balance of $47,000 in the allowance for sales returns account. Sales and cash collections from customers during the year were $663,000 and $615,000, respectively. Accurate Value estimates that 7.2% of all sales will be returned. In 2019, customers returned merchandise for a credit of $36,000 to their accounts. Accurate Value's 2019 income statement would report net sales of__.
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