Answer Happy

ABC sells milk in glass bottles ABC collected $29489 in deposits on glass bottles from customers during the year. • Customers must return their bottles by the end of the year or their deposits will be forfeited. During the year 82% are returned. • Deposits are 68.5% of the actual cost of the glass bottle. . a. On the date ABC collects the deposit the account Liability refundable deposits is increased by: b. The amount the account Liability-refundable deposits is decreased because customers return their bottles is: The amount the account Liability-refundable deposits is decreased from forfeited deposits is d. The amount of Revenue ABC recognizes from forfeited deposits is e. The amount of Cost of goods sold ABC recognizes from the forfeited deposits is:

ABC sells milk in glass bottles. ABC collected $29489 in deposits on glass bottles from customers during the year. - Customers must return their bottles by the end of the year or their deposits will be forfeited. During the year 82% are returned. • Deposits are 68.5% of the actual cost of the glass bottle. a. On the date ABC collects the deposit the account Liability-refundable deposits is increased by: b. The amount the account Liability-refundable deposits is decreased because customers return their bottles is The amount the account Liability-refundable deposits is decreased from forfeited deposits is: d. The amount of Revenue ABC recognizes from forfeited deposits is: e. The amount of Cost of goods sold ABC recognizes from the forfeited deposits is: x