Time Remaining 2 hours 2 minutes 4 seconds
02:02:04
Item 11
Item 11
Time Remaining 2 hours 2 minutes 4 seconds
02:02:04
Esplanade Outdoor Co. estimates that warranty expense will be 5% of sales. The current period's sales were $1,740,000. The entry to record the warranty expense is
Answer:
Warranty Expenses = 5% of sales
Sales= $1,740,000
Warranty Expenses = 5%of $1,740,000
=$87,000
Date | Account Details and Explanation | Debit ($) | Credit ($) |
Warranty Expenses | 87,000 | ||
Warranty Liabilities | 87,000 | ||
To record warranty expense,5% of sales | |||
Warranty Liabilities | 87,000 | ||
Inventory | 87,000 | ||
To record warranty claim recognise |
Thank you
Time Remaining 2 hours 2 minutes 4 seconds 02:02:04 Item 11 Item 11 Time Remaining 2...
Esplanade Outdoor Co. estimates that warranty expense will be 5% of sales. The current period's sales were $1,740,000. The entry to record the warranty expense is
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