On December 1, New Belgium Appliances introduces a new product that includes a one-year warranty on parts.
Question:
On December 1, New Belgium Appliances introduces a new product that includes a one-year warranty on parts. In December, 1,000 units are sold. Management believes that 5% of the units will be defective and that the average warranty costs will be €90 per unit. Prepare the adjusting entry at December 31 to accrue the estimated warranty cost.
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Related Book For 
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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