YYC Inc. sold 2,000 smart TVs for $650 each during 2017. YYC Inc. provides a one year
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Question:
YYC Inc. sold 2,000 smart TVs for $650 each during 2017. YYC Inc. provides a one year warranty on smart TVs. If YYC estimates that warranty costs would be $70 per each smart TV, YYC would record a journal entry that includes a debit to:
a. Cash, for $140,
b. Warranty expense, for $140,
c. Sales returns, for $140,
d. Estimated warranty liability, for $140,
Related Book For
Intermediate Accounting
ISBN: 978-1118742976
16th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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