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  3. Study Set
    Accounting Study Set 1
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    Exam 11: Current Liabilities and Payroll
  5. Question
    Southwest Company Records Indicate That January Sales on Account Were
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Southwest Company Records Indicate That January Sales on Account Were

Question 3

Question 3

Essay

Southwest Company records indicate that January sales on account were $109,000.The company's management estimates warranty expense to be 3.6% of sales.Prepare the journal entry to record warranty expense.Omit explanation.

Correct Answer:

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