Multiple Choice
During the month,Northwest Electric paid $582 to settle warranty claims.Northwest uses an estimated warranty account.The journal entry to record the payment would have been:
A) debit Estimated warranty payable,$582;credit Cash,$582.
B) debit Warranty expense,$582;credit Estimated Warranty payable,$582.
C) debit Estimated warranty payable,582;credit Warranty expense,$582.
D) debit Warranty expense,$582;credit Cash,$582.
Correct Answer:

Verified
Correct Answer:
Verified
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