Question

Vision Wear’s product warranties state that defective glasses will be replaced free of charge for the life of the product. Vision Wear estimates that 2% of the pairs of glasses sold will require replacement. Each pair of glasses costs Vision Wear on average $40. During October 2014, Vision Wear sold 1,300 pairs of glasses at an average price of $120 per pair. Record the estimated warranty liability for October.



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  • CreatedJanuary 08, 2015
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