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bravata bravata
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7 years ago
TNT Construction had cash sales for the month of June totaling $43,700. TNT offers a 1-year warranty on its construction services. If TNT estimates warranty claims will equal 5% of sales, the journal entry to record the estimated warranty expense for the month is:
A) debit Warranty expense, $2,185; credit Cash, $2,185.
B) debit Estimated warranty payable, $2,185; credit Warranty expense, $2,185.
C) debit Warranty expense, $2,185; credit Estimated warranty payable, $2,185.
D) debit Warranty expense, $2,185; credit Sales revenue, $2,185.
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Financial Accounting

Financial Accounting


Edition: 3rd
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largerthanlifelargerthanlife
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bravata Author
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7 years ago
This is a life saver
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