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The company has estimated warranty expense to be 2% in the past and made an entry for $200,000 in 2020. However, the company decided that

The company has estimated warranty expense to be 2% in the past and made an entry for $200,000 in 2020. However, the company decided that it should only be 1.8% this year which amounts to $180,000.

Journal entry for 2020 with book has not closed and book has been closed

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