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Adventure sells used videogames for cash and provides a one-week return right. Returns are material...

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Accounting

Adventure sells used videogames for cash and provides a one-week return right. Returns are material and reasonably predictable. Adventure should:

A. Not record sales until the right to return has expired.

B. Record a contra-receivable in the year of the sale.

C. Credit sales in the period of the return.

D. Recognize a refund liability associated with estimated returns

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