Northwest, Inc. records indicate that January sales on account were $109,000. The company's management estimates warranty expense to be 3.6% of sales. Prepare the journal entry to record warranty expense
What will be an ideal response
Warranty Expense 3,924
Estimated Warranty Payable 3,924 .Warranty Expense = $109,000 x 3.6% = $3,924
Business
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What will be an ideal response?
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