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Pierre Limited, a new company, made sales of 24,000 units at a cost of $37 per unit. The company offers a one-year warranty that replaces
Pierre Limited, a new company, made sales of 24,000 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 4.5 percent of units sold. Pierre's actual warranty replacements were 950 units. Record warranty expense and warranty payments on December 31. How much is Pierre's estimated warranty payable at the end of the period? Record the journal entry for the warranty expense for the year. (Record debits first, then credits. Explanations are not required. Round amounts to the nearest whole dollar.) General Journal Date Accounts Debit Credit Dec. 31 Now record the journal entry for the warranty payments made during the year. General Journal Date Accounts Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next question. Pierre Limited, a new company, made sales of 24,000 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 4.5 percent of units sold. Pierre's actual warranty replacements were 950 units. Record warranty expense and warranty payments on December 31. How much is Pierre's estimated warranty payable at the end of the period? Date Accounts Debit Credit Dec. 31 Now record the journal entry for the warranty payments made during the year. General Journal Date Accounts Debit Credit Dec. 31 How much is Pierre's estimated warranty payable at the end of the period? (Round your answer to the nearest whole dollar.) Pierre has a balance of at the end of the period. Choose from any list or enter any number in the input fields and then continue to the next
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