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Business, 13.10.2021 23:40 AllyPotter7436

During December, Vixen Company sells $855,000 in merchandise that has a one-year warranty. Warranty expense is estimated at 4% of sales. On January 5 of the following year, the merchandise requires repairs that are completed the same day. The repairs cost $14,500 for materials taken from parts inventory. The entry to record the estimated warranty liability at the end of December is:

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During December, Vixen Company sells $855,000 in merchandise that has a one-year warranty. Warranty...
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