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PRIME CORP HAS THE FOLLOWING WARRANTY INFORMATION: 2018 SALES SUBJECT TO WARRANTY 475,000 2018 COST OF GOODS SOLD 140,000 SALES PRICE ATTRIBUTABLE TO WARRANTY 33,600
PRIME CORP HAS THE FOLLOWING WARRANTY INFORMATION: | ||
2018 SALES SUBJECT TO WARRANTY | 475,000 | |
2018 COST OF GOODS SOLD | 140,000 | |
SALES PRICE ATTRIBUTABLE TO WARRANTY | 33,600 | |
WARRANTY TERM (MONTHS) | 24 | (EFFECTIVE JULY 1ST 2018) |
ESTIMATED WARRANTY OBLIGATIONS | 32,000 | |
2018 WARRANTY CLAIMS | 20,000 |
REQUIRED 1: WHAT IS THE DEBIT TO WARRANTY EXPENSE DURING 2018 ASSUMING AN ASSURANCE WARRANTY OBLIGATION
REQUIRED 2: WHAT IS THE BALANCE IN ESTIMATED WARRANTY LIABILITY AT DECEMBER 31ST ASSUMING AN ASSURANCE WARRANTY OBLIGATION
REQUIRED 3: WHAT IS THE BALANCE IN UNEARNED REVENUE ON JANUARY 1ST 2019 ASSUMING AN EXTENDED WARRANTY OBLIGATION
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