Western Company estimates warranty expense as 5% of sales. On January 1, 2016 warranties payable...
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Accounting
Western Company estimates warranty expense as 5% of sales. On January 1, 2016 warranties payable was $20,000, and the December 31 liability for the warranty was $22,000. During the year Western recorded sales of $300,000. The amount paid by Western during the year to meet its warranty obligations was:
A.
$30,000
B.
$12,000
C.
$15,000
D.
$13,000
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