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02-11-2022
Business

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False value hardware began 2024 with a credit balance of $32,000 in the refund liability account. sales and cash collections from customers during the year were $650,000 and $610,000, respectively. false value estimates that 6% of all sales will be returned. during 2024, customers returned merchandise for credit of $28,000 to their accounts. false value hardware's 2024 income statement would report net sales of:

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