During June,Vixen Company sells $850,000 in merchandise that has a one year warranty.Experience shows that warranty expenses average about 3% of the selling price.Customers returned $14,000 of merchandise for warranty replacement during the month.The entry to record the estimated warranty liability at the end of the month is:
A)Debit Warranty Expense $11,500; credit Estimated Warranty Liability $11,500.
B)Debit Warranty Expense $14,000; credit Estimated Warranty Liability $14,000.
C)Debit Warranty Expense $25,500; credit Estimated Warranty Liability $25,500.
D)Debit Estimated Warranty Liability $14,000; credit Warranty Expense $14,000.
E)Debit Estimated Warranty Liability $11,500; credit Warranty Expense $11,500.

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The Answer of During June,Vixen Company sells $850,000 in merchandise that has a one year warranty.Experience shows that warranty expenses average about 3% of the selling price.Customers returned $14,000 of merchandise for warranty replacement during the month.The entry to record the estimated warranty liability at the end of the month is:
A)Debit Warranty Expense $11,500; credit Estimated Warranty Liability $11,500.
B)Debit Warranty Expense $14,000; credit Estimated Warranty Liability $14,000.
C)Debit Warranty Expense $25,500; credit Estimated Warranty Liability $25,500.
D)Debit Estimated Warranty Liability $14,000; credit Warranty Expense $14,000.
E)Debit Estimated Warranty Liability $11,500; credit Warranty Expense $11,500.

During June,Vixen Company Sells $850,000 in Merchandise That Has a One