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Explain the accounting for each warranty type

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Reference no: EM132894613

You are a CPA working for GE. You are responsible for managing the manufacturer's warranties and the point of sale, add-on-warranties that customers purchase:

Question 1: Explain the accounting for each warranty type, along with the impact on the financial statements.

Question 2: Explain why the reporting of each differs.

Question 3: Include each type of warranty's redemption and expiration process and their effect on the income statement and balance sheet.

Reference no: EM132894613

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