Question
Which of the following journal entries would probably be made if the modified cash basis of accounting for warranties is in use for a sale
Which of the following journal entries would probably be made if the modified cash basis of accounting for warranties is in use for a sale made in 2016?
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| a. | 2016 Warranty Expense XX Estimated Liability under Warranties XX |
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| b. | 2017 Estimated Liability under Warranties XX Cash XX |
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| c. | 2016 Cash XX Sales XX Unearned Warranty Revenue XX |
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| d. | 2017 Warranty Expense XX Cash XX |
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Accounting For Governmental And Nonprofit Entities
Authors: Jacqueline Reck, Suzanne Lowensohn, Daniel Neely
19th Edition
1260118851, 9781260118858
