Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 30 Jul 2017 My Price 3.00

Quantas Industries

Quantas Industries sold $325,000 of consumer electronics during July under a nine-month warranty. The cost to repair defects under the warranty is estimated at 4.5% of the sales price. On November 11, a customer was given $220 cash under terms of the warranty.

Provide the journal entry for (a) the estimated warranty expense on July 31 for July sales, and (b) the November 11 cash   payment.

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Jul 2017 04:07 PM My Price 3.00

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