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Smith Co. sold 150 color laser copiers in 2010 for $6,000 each, together with a...

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Accounting

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Smith Co. sold 150 color laser copiers in 2010 for $6,000 each, together with a three-year warranty. Maintenance on each copier during the warranty period averages $1,050. Prepare entries to record the sale of the copiers and the related warranty costs, assuming that the expense (accrual) method is used. Actual warranty costs incurred in 2010 were $35,000

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