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Noir Limited, a new company, made sales of 21,000 units at a cost of $37 per unit. The company offers a one-year warranty that replaces
Noir Limited, a new company, made sales of 21,000 units at a cost of $37 per unit. The company offers a one-year warranty that replaces any defective units with a new one. The company estimated warranty replacements at 4 percent of units sold. Noir's actual warranty replacements were 720 units. Record warranty expense and warranty payments on December 31. How much is Noir's estimated warranty payable at the end of the period? General Journal Date Accounts Debit Credit Dec. 31 Warranty Expense 840 840 during the year. Accounts Payable Accounts Receivable Cash Now record the j Estimated Warranty Payable Inventory Sales Revenue Date Warranty Expense Dec. 31 | Esumated warranty Payable Inventory Debit Credit 7 How much is Noir's estimated warranty payable at the end of the period? (Round your answer to the nearest whole dollar.) Noir has a balance of at the end of the period
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