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H3Ko H3Ko
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7 years ago
Bespoke, 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 $1,900. During the year, Bespoke had $296,000 in sales and had to pay out $5,900 in warranty payments. At the end of the year, what is the closing balance in the Estimated Warranty Payable accounts?
A) $7,800
B) $8,460
C) $6,360
D) $10,360
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Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Mrgo-breedMrgo-breed
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H3Ko Author
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7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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7 years ago
I'm liking this Slight Smile
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