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Fast Bikes, Inc. offers warranties on all their bikes. They estimate warranty expense at 3.5% of sales. At the beginning of 2018, the Estimated Warranty
Fast Bikes, Inc. offers warranties on all their bikes. They estimate warranty expense at 3.5% of sales. At the beginning of 2018, the Estimated Warranty Payable account had a credit balance of $1,900. During the year, Fast Bikes had $296.000 in sales and had to pay out $5,900 in warranty payments. At the end of the year, what is the ending balance in the Estimated Warranty Payable accounts? O A $10,360 OB. $6,360 OC. $8.460 OD. $7,800
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