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During August, Boxer Company sells $364,000 in merchandise that has a one year warranty, experience shows that warranty expenses average about 3% of the selling

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During August, Boxer Company sells $364,000 in merchandise that has a one year warranty, experience shows that warranty expenses average about 3% of the selling price. The warranty liability account has a credit balance of $13,600 before adjustment Customers returned merchandise for warranty repairs during the month that used $10,200 in parts for repairs. The entry to record the customer warranty repairs is Multiple Choice Debit Warranty Expense 510.200; credit Estimated Warranty Liability 510,200 Debit Warranty Expense 57.520: credit Estimated Warranty Liability $7.520. Debit Estimated Warranty Liability 510,920, credit Parts Inventory 510,920. Debit Warranty Expense $10.200, credit Estimated Warranty Liability $10,200. Debit Warranty Expense $7.520 credit Estimated Warranty Liability $7,520, Debit Estimated Warranty Liability $10,920 credit Parts Inventory $10,920 Debit Warranty Expense S10,920, credit Estimated Warranty Liability S10,920. Debit Estimated Warranty Liability $10,200, credit Parts Inventory $10,200

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