Question
Multiple Choice Question 131 Sunland Company estimates its annual warranty expense as 4 % of annual net sales. The following data relate to the calendar
Multiple Choice Question 131
Sunland Companyestimates its annual warranty expense as4% of annual net sales. The following data relate to the calendar year 2018:
Net sales$1497000Warranty liability accountBalance, Dec. 31, 2018$11000debit before adjustmentBalance, Dec. 31, 201821000credit after adjustment
Which one of the following entries was made to record the 2018 estimated warranty expense?
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
