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Calculate the provision for warranty repairs

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Reference no: EM132776482

Question - Can Ltd sell goods carrying a two year repair warranty. The following expectations have been set by the Management for the year ended 31 October 2014 % goods sold Nature of defects Cost of repairs if items had defects

75% No defects R nil

18% Minor defects R200 000

7% Major defects R300 000

Required - Calculate the provision for warranty repairs and make journal entries?

Reference no: EM132776482

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