Connect Sines Sce Callery pter 9 Quiz Save & Exit He° MC Qu. 143 During August,

Question

Connect Sines Sce Callery pter 9 Quiz Save & Exit He° MC Qu. 143 During August, Boxer... During August, Boxer Company sells $350,000 in merchandise that has a one year warranty. Experience shows that warranty expenses average about 4% of the seling price. The warranty liability account has a credit balance of $12.200 before adjustment. Customers returned merchandise for warranty repairs during the month that used $8,800 in parts for repairs. The entry to record the customer warranty repairs is Mulbiple Choice Debit Warranty Expense $10,600 credit Estimated Warranty Lisbility $10,600 Debit Estimated Warranty Liability $8,800, credit Parts Inventory $8.800

Explanation / Answer

answer

debit estimated warranty liability 8800 credit parts inventory 8800

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