Essay
Buy Best Company sells personal computers for $2,300 each.The price includes a two-year warranty.During 2020,the company sells 600 computers.On the basis of past experience,the warranty costs are estimated to be $150 per computer.The actual warranty costs paid by Buy Best during 2020 were $45,000.Prepare general journal entries to record the estimated warranty expense and the warranty payments during 2020.
Correct Answer:
Verified
Correct Answer:
Verified
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