Saran Digital, Inc starts the year with $3,500 in its Estimated Warranty Payable account
During the year, there were $213,000 in sales and $4,900 in warranty repair payments. Saran Digital estimates warranty expense at 4% of sales. The Warranty Expense for the year is ________.
A) $8,520
B) $4,900
C) $3,500
D) $7,120
A .Warranty Expense 8,520
Estimated Warranty Payable ($213,000 x 4%) 8,520
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Fill in the blank(s) with the appropriate word(s).
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