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What journal entry the company should record

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Reference no: EM132883147

Problem 1: Marr Co. sells its products in reusable containers. The customer is charged a deposit for each container delivered and receives a refund for each container returned within two years after the year of delivery. Marr accounts for the containers not returned within the time limit as being retired by sale at the deposit amount. If a customer does not return the container within the two years, the company should record what journal entry?

Reference no: EM132883147

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