Respuesta :
If a company believes its sales returns will be material, an adjusting entry for expected returns should be made to allowance for sales return account.
Sales are activities involved in selling or the quantity of products that are sold within a specified time frame. It is also regarded as a sale when a service is provided for a fee. Profit is the net income remaining after all costs have been deducted from revenues, which is the income generated by business operations. Sales, revenues from fees, and income from real estate are just a few examples of the various ways that money can be made. An exchange of goods or services for money or other assets is known as a sale and involves two or more parties. Prior to deducting any costs from the calculation, revenue is the total amount of income a business derives from its core operations.
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