Must Buy sells electronic items with 3 year warranty. In a particular month, the product sales were
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Question:
Must Buy sells electronic items with year warranty. In a particular month, the product sales
were $ and warranty sales were of product sales. As it sells quality products,not
many customers come back for repairs. The past records show the repair costs were only
of warranty sales and provided the allowance accordingly for this month also.
Warrant repairs reported were:
year $
year
year $
Please provide necessary entries and calculate the closing balance in the liability for
warranty expenses deferred expenses assuming the opening balance in the account was
$
Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 978-1118749647
8th edition
Authors: Black Ken
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