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10 Points. Stice Brothers sells products with warranties included in the selling price. During December 2018, Stice sold goods for $ cash. These goods cost
- 10 Points. Stice Brothers sells products with warranties included in the selling price. During December 2018, Stice sold goods for $ cash. These goods cost $ to manufacture. Stice is required by law to collect % sales tax on all sales.
Stice estimates warranty costs to be % of selling price. During December 2018, Stice made $ of repairs under warranty (paid in cash to a repair service). On December 31, 2018, Stice remitted all sales tax collected in December to the state government.
Journalize all of Stices transactions in the month of December 2018.
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