The company has estimated warranty expense to be 2% in the past and made an...
70.2K
Verified Solution
Link Copied!
Question
Accounting
The company has estimated warranty expense to be 2% in the past and made an entry for $200,000 in 2020. However, the company decided that it should only be 1.8% this year which amounts to $180,000.
Journal entry for 2020 with book has not closed and book has been closed
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
