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oksian1 [2.3K]
4 years ago
6

Nelson Industries warrants its products for one year. The estimated product warranty is 4.3% of sales. Sales were $475,000 for S

eptember. In October, a customer received warranty repairs requiring $215 of parts and $65 of labor. Required: 1. Journalize the adjusting entry required at September 30, the end of the first month of the current year, to record the estimated product warranty expense. 2. Journalize the entry to record the warranty work provided in October. If an amount box does not require an entry, leave it blank.
Business
1 answer:
pochemuha4 years ago
6 0

Answer:

Explanation:

The required journal is given below

1 Product Warranty Expense 20425 =475000*4.3%

Product Warranty Payable 20425

2 Product Warranty Payable 280

Supplies/Inventory 215

Wages Payable 65

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Answer:

C. cost-benefit analysis

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Cost - benefit analysis -

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The method is done with the help of certain models , data , records etc. in order to analyse even the minute details in a proper manner .

Hence , from the given scenario of the question ,

The correct answer is C. cost-benefit analysis .

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June Smith, a process engineer, has sold her 15-year patent for a new etching process to Silica Labs, Inc. In return, she has re
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3 years ago
On January 1, Year 1, Boyd Corporation accepts a $10,000 three-month, nine percent promissory note from one of its customers. To
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Answer:

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The entry would  credit to Sales if it is received against sales or credit to account receivable isf it is received against accounts receivable for a further time period as the case may be.

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