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plz help me as soon as possible POSSIBLE POINTS A company sells its product subject to a warranty that covers the cost of parts and
plz help me as soon as possible
POSSIBLE POINTS A company sells its product subject to a warranty that covers the cost of parts and labour for repairs during the six months after sal warranty costs are estimated to be 3,5% of sales for parts, and 1.5% of sales for labour. During the month of June, the company performed warranty work and used 58.000 worth of parts and paid $4,000 in wages for labour to do the warranty work. Sales for June amounted to $450,000. (1) What account should be debited for the $4,000 in labour? (2) What should be the amount of estimated warranty expense for June? (3) if the Estimated Warranty Liability account had a $10,000 credit balance on May 31, what should be the account balance as of June 302 R UStep by Step Solution
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