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What are some of the techniques used to prevent child abuse?
Inventory Returns Estimated
An approximation of the value or volume of goods that will be returned from customers back to the inventory.
Sales Refund Payable
A liability account that holds funds reserved for future refunds to customers for returned goods.
Sales Returns
Goods returned by customers to the seller after the sale, which result in a reduction of revenue previously recognized.
Adjusting Entry
A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the correct periods.
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