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Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is estimated at...

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Accounting

Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is estimated at 4% of sales revenue. In 2017, the company had $605,000 in sales. In the same year, Lawrence Sales replaced defective goods with a cost of $8500. Which of the following is the entry needed to record the replacement of the defective goods?

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