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Business, 30.10.2020 17:40 Casmereee

During August, Boxer Company sells $363,000 in merchandise that has a one year warranty. Experience shows that warranty expenses average about 4% of the selling price. The warranty liability account has a credit balance of $12,100 before adjustment. Customers returned merchandise for warranty repairs during the month that used $8,700 in parts for repairs. The entry to record the estimated warranty expense for the month is:

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During August, Boxer Company sells $363,000 in merchandise that has a one year warranty. Experience...

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