Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
harra harra
wrote...
Go to Answer
Posts: 1309
Rep: 2 0
6 years ago
Franconia Sales offers warranties on all their electronic goods.  Warranty expense is estimated at 2% of sales revenue.  In 2013, Franconia had $500,000 of sales.  In the same year, Franconia paid out $7,500 of warranty payments.  Which of the following is the entry needed to record the disbursement of warranty payments?
A)
Estimated warranty payable   7,500   
    Cash      7,500

B)
Warranty expense   7,500   
    Estimated warranty payable      7,500

C)
Warranty expense   10,000   
    Estimated warranty payable      10,000

D)
Warranty expense   10,000   
    Sales revenue      10,000
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
Read 127 times
1 Reply
Replies
Answer verified by a subject expert
migrodmigrod
wrote...
#1
Posts: 415
Rep: 22 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

harra Author
wrote...

6 years ago
Smart ... Thanks!
Lawson1981
wrote...

Yesterday
You make an excellent tutor!
Helpmeplease11
wrote...

2 hours ago
This helped my grade so much Perfect
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1241 People Browsing
 125 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 239
  
 473
  
 216
Your Opinion
What's your favorite funny biology word?
Votes: 328
Previous poll results: Which 'study break' activity do you find most distracting?