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Expected warranty claims on products sold are accrued as the sales are made. Warranty claims are made at the end of the subsequent fiscal year.
Expected warranty claims on products sold are accrued as the sales are made. Warranty claims are made at the end of the subsequent fiscal year. A cash payment is made to the customer at the beginning of the year following the claim.
In what period will the initial transaction be recognized and the element realized by cash.
April
August
August & November
December
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