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Classic Sales Company Offers Warranties on All Their Electronic Goods

Question 161

Multiple Choice

Classic Sales Company offers warranties on all their electronic goods.Warranty expense is estimated at 3% of sales revenue.In 2018,the company had $602,000 of sales.In the same year,it paid out $12,000 of warranty payments.Which of the following is the entry needed to record the estimated warranty expense?


A)
Classic Sales Company offers warranties on all their electronic goods.Warranty expense is estimated at 3% of sales revenue.In 2018,the company had $602,000 of sales.In the same year,it paid out $12,000 of warranty payments.Which of the following is the entry needed to record the estimated warranty expense? A) B) C) D)
B)
Classic Sales Company offers warranties on all their electronic goods.Warranty expense is estimated at 3% of sales revenue.In 2018,the company had $602,000 of sales.In the same year,it paid out $12,000 of warranty payments.Which of the following is the entry needed to record the estimated warranty expense? A) B) C) D)
C)
Classic Sales Company offers warranties on all their electronic goods.Warranty expense is estimated at 3% of sales revenue.In 2018,the company had $602,000 of sales.In the same year,it paid out $12,000 of warranty payments.Which of the following is the entry needed to record the estimated warranty expense? A) B) C) D)
D)
Classic Sales Company offers warranties on all their electronic goods.Warranty expense is estimated at 3% of sales revenue.In 2018,the company had $602,000 of sales.In the same year,it paid out $12,000 of warranty payments.Which of the following is the entry needed to record the estimated warranty expense? A) B) C) D)

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