Question
On July 1, 2020, CM Enterprises sold 500 waffle makers to Dots Inc. for $120 cash each. (Ignore COGS here). The Waffle maker includes a
On July 1, 2020, CM Enterprises sold 500 waffle makers to Dots Inc. for $120 cash each. (Ignore COGS here). The Waffle maker includes a 1-year limited warranty. CM estimates that warranty costs will be 8% of waffle maker sales. CM incurred $1,100 in repair costs for warranty claims in 2020 and $1,300 in 2021.
How much revenue does CM enterprises recognize for the warranty in 2020?
How much warranty expense does CM Enterprises recognize in 2020?
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Corporate Environmental Reporting The Western Approach To Nature
Authors: Leanne J Morrison
1st Edition
0367785455, 9780367785451
