On December 20, 2023, The Net Department Store sold a computer for $3,500 with a one-year warranty
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On December 20, 2023, The Net Department Store sold a computer for $3,500 with a one-year warranty that covers parts and labour. Warranty expense was estimated at 2% of sales dollars. On March 2, 2024, the computer was taken in for repairs covered under the warranty that required $30 in parts and $10 of labour. Prepare the March 2 journal entry to record the warranty repairs.
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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