Question
EarlKeen Co. sold $330,000 worth of equipment in January with a one-year warranty.The cost of repairing defects under the guarantee is estimated at 4% of
EarlKeen Co. sold $330,000 worth of equipment in January with a one-year warranty. The cost of repairing defects under the guarantee is estimated at 4% of the sale price. On August 15, a customer required a $145 part replacement, plus $49 labor under warranty.
Provide the journal entry for
(a) the January 31 estimated warranty expense for January sales
(b) the August 15 warranty work
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a Journal entry for the estimated warranty expense for January sales on Janu...
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Finance for Non Financial Managers
Authors: Pierre Bergeron
7th edition
176530835, 978-0176530839
