Answer:
See explanation section
Explanation:
Journal entry to be recorded -
<em>Debit Warranty expense $8,000</em>
<em>Credit Estimated warranty liability $8,000</em>
Calculation:
Net sales = $400,000
warranty expenses = 2% of the net selling price.
Therefore, estimated warranty expense = $400,000 × 2% = $8,000
Since, the company does not pay the expenses, a liability arises. Since we are estimating the value from past experience, the liability will be estimated.
No equivalent fraction of the equation is instructions to follow and analyze the diagram below the complete 5509 50 507MLG equals 43.6%, MLI equals 46.4%, GH equals $35.81 calls equals style equation to the 4396 equals I’m
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