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H3Ko H3Ko
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8 years ago
Felix Sales, Inc. offers warranties on all its electronic goods. Warranty expense is estimated at 3.5% of sales revenue. In 2017, Felix had sales of $333,000. In the same year, Felix replaced defective goods with merchandise inventory costing $8,750. Prepare the journal entry to record the warranty expense.
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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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TanksTanks
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H3Ko Author
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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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