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Acc-Saint Mary's Uversity ttempt 1 smu.brightspace.com Netflix Accrued Interest: $3,000 Question 2 (1 point) Momo Inc. generated sales for the current month of 200
Acc-Saint Mary's Uversity ttempt 1 smu.brightspace.com Netflix Accrued Interest: $3,000 Question 2 (1 point) Momo Inc. generated sales for the current month of 200 units at $225 each. Each unit carries a 6-month warranty, Momo Inc. promises to repair the unit should it become defective. The estimated cost to the company to honour the warranty is $60 and past experience has shown that approximately 7% of all units will have to be repaired during the warranty period. Record the entry to recognize warranty expense for the month Dr. Warranty Expense $3,150 Cr. Warranty Payable $3,150 Dr. Warranty Expense $840 Cr. Warranty Payable $840 Dr. Warranty Payable $840 Cr. Cash $840 Dr. Warranty Payable $3,150 Cr. Cash $3,150 Question 3 (1 point) The following list contains a number of debt instruments which you can assume have identical key terms (ie., maturity and issuance date, interest rates and interest payment dates). What items on the list have equivalent accounting treatments (i.e.
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