DE11-7 Refer to the data given in Daily Exercise 11-6. What amount of warranty expense will Five

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DE11-7 Refer to the data given in Daily Exercise 11-6. What amount of warranty expense will Five Points Ford report during 20X7? Which accounting principle addresses this situation? Does the warranty expense for the year equal the year's cash payments for warranties? Explain how the accounting principle works for measuring warranty expense.

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