Multiple Choice
When a company settles a warranty claim by replacing the defective goods, the journal entry will include a debit to _______ and a credit to _______.
A) Warranty Expense, Cash
B) Warranty Expense, Inventory
C) Estimated Warranty Payable, Cash
D) Estimated Warranty Payable, Inventory
Correct Answer:
Verified
Correct Answer:
Verified
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