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Cook-Rite Co. sold $138,000 of consumer electronics during July under a six-month warranty. The cost...

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Accounting

Cook-Rite Co. sold $138,000 of consumer electronics during July under a six-month warranty. The cost to repair defects under the warranty is estimated at 4.5% of the sales price. On November 11, a customer was given $420 cash under terms of the warranty

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