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Golliath USA, a tre manufacturer, guarantees its tires against defects for five years or 60,000mil, whichever comes first. Suppose Golliath USA can expect warranty costs

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Golliath USA, a tre manufacturer, guarantees its tires against defects for five years or 60,000mil, whichever comes first. Suppose Golliath USA can expect warranty costs during the five-year period to add up to 4% of sales. Assume that a Golliath USA dealer in Denver, Colorado, made sales of $481,000 during 2021. Golliath USA recelved cash for 30% of the sales and took notes receivable for the remainder. Payments to satisfy customer warranty claims totaled $19,000 during 2021. Read the requirements. 1. Record the sales, warranty expense, and warranty payments for Golliath USA. (Record debits first, then credits, Exclude explanations from any journal entries.) First, lers record the sale of the tires. Requirements 1. Record the sales, warranty expense, and wartanty payments for Gollath USA. lgnore cost of goods sold. 2. Post to the Acorued Warranty Payable T-acoount. The begining balance was $20,000. At the end of 2021, how much in accrued warranty payable does Golliath USA owe to its customers

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