In December 2020, Your Corporation sold merchandise that cost it $34,000. It estimated that 2.5% (based on cost of goods sold) of warranty claims might be filed in regard to these transactions. On February 12, 2021, Your Corporation honored a warranty claim by giving the customer a new machine out of inventory that cost the company $75. Required:
What records correctly shows the effect of the recognition of the warranty expense on the 2020 financial statements of Your Company?

Now ray has had the tires for two months and he notices that the tread has started to pull away from the tire. he has already contacted the place who sold the tires and calmly and accurately explained the problem. they didn’t him because they no longer carry that tire. so he talked with the manager and he still did not get the tire replaced. his consumer rights are being violated. pretend you are ray and write a letter to the company’s headquarters. here are some points to keep in mind when writing the letter: include your name, address, and account number, if appropriate. describe your purchase (name of product, serial numbers, date and location of purchase). state the problem and give the history of how you tried to resolve the problem. ask for a specific action. include how you can be reached.