Dual Pedal Products Company sells bicycles for $480, with a 30-day warranty against defects. Past experience indicates that 6% of the bicycles will have a defect and that the necessary repairs will cost $64 per bicycle. Sales for May were $432,000; 20 units sold in May were found defective and repaired that month.

What is the May 31 journal entry for the estimated liability for product warranties

Answer rating: 100% (QA)

Surehere is the journal entry for the estimated liability for product warranties as ... View the full answer