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Firdavs [7]
3 years ago
12

Boyd's Bicycle Sales and Repairs Co. offers a 6-month warranty on all new bicycle purchases. Based on history, Boyd determines t

hat warranty repairs are equal to approximately 2% of sales. During the month, Boyd sales total $20,000. Boyd will record Warranty Expense in the amount of ______ for the month.
Business
1 answer:
guapka [62]3 years ago
4 0

Answer:

Boyd will record Warranty Expense in the amount of $400 for the month.

Explanation:

Warraty expense is an obligation on the business because business idmliable to accept the claims of warranty. A estimated percentage of warranty expense is charges as an expense in each period.

Sales = $20,000

Warranty repair = 2% of Sales

Warranty Expnese = Sales x Warranty repairs percentage

Warranty Expnese = $20,000 x 2%

Warranty Expnese = $400

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