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answer me quickly Listen Creekside Appliances provides a warranty on its product and estimates warranty expense to be 26 otta sales. Total sales for 2020
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Listen Creekside Appliances provides a warranty on its product and estimates warranty expense to be 26 otta sales. Total sales for 2020 was $550,000. a. Record the journal entry for the estimated warranty expense for 2020 b.In January 2021, Creekside has received two warranty dalims. For one dalm, Creekside refunded the customer $1,000 and for the other they replaced the product with inventory that cost $550. Record the journal entry for the warranty claims. Explanations not required Select accounts from the Chart of Accounts (Add additional accounts if required): Cash Sales teve Cost of goods sold Warranty expense Inventory Warranty payableStep by Step Solution
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