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On December 31, 2017, Estimated Warranty Payable Is Reported on the Balance

Question 38

Multiple Choice

On December 31, 2017, Estimated Warranty Payable is reported on the balance sheet for White and Decker Company. The liability pertains to products sold, in 2017, with five year warranties. The Estimated Warranty Payable should be reported on the balance sheet at December 31, 2017 as a:


A) part of stockholders' equity.
B) long-term liability only.
C) current liability only.
D) current liability and a long-term liability.

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