Title: Franconia Sales offers warranties on all their electronic goods. Warranty expense is estimated at ... Post by: harra on Sep 20, 2017 Franconia Sales offers warranties on all their electronic goods. Warranty expense is estimated at 2% of sales revenue. In 2013, Franconia had $500,000 of sales. In the same year, Franconia paid out $7,500 of warranty payments. Which of the following is the entry needed to record the disbursement of warranty payments?
A) Estimated warranty payable 7,500 Cash 7,500 B) Warranty expense 7,500 Estimated warranty payable 7,500 C) Warranty expense 10,000 Estimated warranty payable 10,000 D) Warranty expense 10,000 Sales revenue 10,000 Title: Re: Franconia Sales offers warranties on all their electronic goods. Warranty expense is estimated ... Post by: migrod on Sep 20, 2017 Content hidden
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