Nash Industries changed its method of accounting for warranties from the cash basis to the accrual basis
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Question:
Nash Industries changed its method of accounting for warranties from the cash basis to the accrual basis on January The company's accountant determined that a liability of $ should be established. Ignore income taxes.
Required:
Prepare the journal entry to record the accounting change.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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