At December 31, 2022, Familla Corporation estimates that goods with a selling price of $1,150 and a cost of $500 that were sold on account during the current period will be returned during the next accounting period. Record the entries required to adjust for this information. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Question

27-09-2021
Business

contestada

At December 31, 2022, Familla Corporation estimates that goods with a selling price of $1,150 and a cost of $500 that were sold on account during the current period will be returned during the next accounting period. Record the entries required to adjust for this information. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Respuesta :

Otras preguntas

produce three small cells that Meiosis and unequal cytoplasmic division in seed plant disintegrate and one large megaspore. O a gametophytes O b. pollen sacs O

PLEASE HELP!! Wesley initially filled a measuring cup with 5/6 of a cup of syrup from a large jug. Then he poured 1/2 of a cup back into the jug. How much syrup

computer can do work very___

15. Dravid is a famous cricket player. He has so far scored 6980 runs in the test matches. He wishes to complete 10,000 runs: How many more runs does he need? *

look at the cover of the toothpaste and list down the ingredients present in it?

If the nth term of a sequence is 28-3n what is the 7th term?

Constitutional and absolute monarchies are similar because both have O a democratic form of government that allows electorate control O a Parliament O monarchs

plz help me with this math and also explain

When managers analyze a wide variety of internal and external performance metrics in order to set financial and strategic goals, they often turn to a framework

she likes people waving at her.(into passive voice)

ACCESS MORE

abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2021-10-04T18:10:58+02:00

The required appropriate journal entries assuming Familla Corporation estimate that goods with a selling price of $1,150 and a cost of $500 that were sold on account are:

Dr Sales return $1,150

Cr Account Receiveble $1,150

Dr Cost of sales return $500

Cr Cash $500

Based on the given information the required journal entries are:

Familla Corporation Journal entries

December 31, 2022

Dr Sales return $1,150

Cr Account Receiveble $1,150

(To record sales return on account)

December 31, 2022

Dr Cost of sales return $500

Cr Cash $500

(To record cost of sales return)

Learn more here:

https://brainly.com/question/14929175