During august, boxer company sells $356,000 in merchandise that has a one year warranty. experience shows that warranty expenses average about 5% of the selling price. the warranty liability account has a credit balance of $12,800 before adjustment. customers returned merchandise for warranty repairs during the month that used $9,400 in parts for repairs. the entry to record the estimated warranty expense for the month is:

The above answer can be explained as under -

The journal entry to record estimated warranty expense is -

Warranty Expense Dr. ............. $ 17,800

Estimated Warranty Liability .......... Cr. $ 17,800.

The estimated warranty liability is calculated on the basis of the credit sales of the year and percentage estimated. Here, the credit sales of the year is $ 356,000 and the estimated percentage is 5 % of credit sales. Thus, estimated warranty liability is = $ 356,000

(i know i'm late but the answer's "things about yourself" because you want to list things you're capable of, why you want to open up the business, the amount of money you're putting into it,etc.) i'm guessing you take online school small business, the answers to the quizzes are all over quizlet. just look up your question and type quizlet after it and it'll pop up.

answermeasured by how well she or he does the job'; /