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The accounting records of Earthtone Ceramics included the following at January 1, 2024: (Click the icon to view the data.) In the past, Earthtone's warranty
The accounting records of Earthtone Ceramics included the following at January 1, 2024: (Click the icon to view the data.) In the past, Earthtone's warranty expense has been 5% of sales. During 2024, Earthtone made sales of $130,000 and paid $6,500 to satisfy warranty claims. Read the requirements. Requirement 1. Journalize Earthtone's warranty expense and warranty payments during 2024. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the warranty expense. Date Accounts *** Debit Credit
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