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Cycle Haven, Inc. offers warranties on all their bikes. They estimate warranty expense at 3.5% of sales. At the beginning of 2017, the Estimated Warranty Payable account had a credit balance of $1,400. During the year, Cycle Haven had $299,000 in sales and had to pay out $5,900 in warranty payments. How much Warranty Expense will be reported on the 2017 income statement?
A) $5,965
B) $10,465
C) $7,300
D) $9,065
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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8 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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Thanks a bunch!
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thank you sm
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Thank you
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Thanks
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thx you
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