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valkas [14]
3 years ago
6

A company has a selling price of $1,650 each for its printers. Each printer has a 2 year warranty that covers replacement of def

ective parts. It is estimated that 3% of all printers sold will be returned under the warranty at an average cost of $147 each. During November, the company sold 27,000 printers, and 370 printers were serviced under the warranty at a total cost of $52,000. The balance in the Estimated Warranty Liability account at November 1 was $27,500. What is the company's warranty expense for the month of November?
Business
1 answer:
neonofarm [45]3 years ago
5 0

Answer:

$119,070

Explanation:

The computation of warranty expense for the month of November is shown below:-

Warranty expense for the month of November = Sold printers × Warranty percentage × Average cost

= 27,000 × 3% × $147

= $119,070

Therefore for computing the warranty expense for the month of November we simply applied the above formula.

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Answer:

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Step-by-step explanation:

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What do investors use the income statements of organizations for?
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Date   Journal Entry                                  Debit      Credit            

           Interest Expense                          $18,205

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Answer:

The correct answer is the option D: All of the above.

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