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Title: Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is ... Post by: H3Ko on Sep 2, 2016 Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is estimated at 3% of sales revenue. In 2017, the company had $603,000 in sales. In the same year, Lawrence Sales replaced defective goods with a cost of $16,500. Which of the following is the entry needed to record the replacement of the defective goods?
A) Warranty Expense 18,090 Merchandise Inventory 18,090 B) Warranty Expense 16,500 Estimated Warranty Payable 16,500 C) Warranty Expense 18,090 Estimated Warranty Payable 18,090 D) Estimated Warranty Payable 16,500 Merchandise Inventory 16,500 Title: Re: Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is ... Post by: .unplugged. on Sep 2, 2016 Content hidden
Title: Re: Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is ... Post by: H3Ko on Oct 12, 2016 I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
Title: Re: Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is ... Post by: Ally Fergusson on Feb 11, 2020 thanks
Title: Re: Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is ... Post by: Ryan Splendorio on May 4, 2020 sweet
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