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Help Save & Exit Sub 22 A company estimates that warranty expense will be 4% of sales. The company's sales for the current period are
Help Save & Exit Sub 22 A company estimates that warranty expense will be 4% of sales. The company's sales for the current period are $225,000. The current period's entry to record the warranty expenses O Multiple Choice O Debit Warranty Expense $9.000 credit Sales 59,000 No entry is recorded until the items are returned for warranty repairs Debit Estimated Warranty Liability $9,000 credit Warranty Expense $9.000 Debit Estimated Warranty Liability $9.000 credit Cash $9,000, Debit Warranty Expense $9,000 credit Estimated Warranty Liability $9,000
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