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Record the warranty payments for the company. Date 2024 Accounts and Explanation Estimated Warranty Payable Debit Credit 10,000 Cash 10,000 Warranty payments. Requirement 2.
Record the warranty payments for the company. Date 2024 Accounts and Explanation Estimated Warranty Payable Debit Credit 10,000 Cash 10,000 Warranty payments. Requirement 2. Assume the Estimated Warranty Payable is $0 on January 1, 2024. Post the 2024 transactions to the Estimated Warranty Payable T-account. At the end of 2024, how much in Estimated Warranty Payable does the company owe? Use the T-account to determine the ending balance for the Estimated Warranty Payable account. Use a "Beg. Bal." posting reference to show the beginning balance of the account and an "End. Bal." posting reference to show the ending balance of the account. (Enter a "0" for any zero amounts.) Beg. Bal. Estimated Warranty Payable 0 Payments 30,000 End. Bal. 20,000
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