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Make the adjusting entry at December

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Question - On December 1, Swifty Company introduces a new product that includes a one-year warranty on parts. In December, 1,100 units are sold. Management believes that 4% of the units will be defective and that the average warranty costs will be $90 per unit. Make the adjusting entry at December 31 to accrue the estimated warranty cost, assuming no warranty claims have been honored to date.

Reference no: EM132696376

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