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Business, 07.05.2020 13:58 kylemartinez13

Monthly sales are $530,000. Warranty costs are estimated at 5% of monthly sales. Warranties are honored with replacement products. No defective products are returned during the month. At the end of the month, the company should record a journal entry with a credit to: A. Sales for $26,500. B. Warranty Expense for $26,500. C. Estimated Warranty Payable for $26,500. D. Inventory for $26,500.

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Monthly sales are $530,000. Warranty costs are estimated at 5% of monthly sales. Warranties are hono...
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