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Question - Accrued Product Warranty
Lachgar Industries warrants its products for one year. The estimated product warranty is 3% of sales. Assume that sales were $397,000 for September. In October, a customer received warranty repairs requiring $265 of parts and $95 of labor.
a. Journalize the adjusting entry required at September 30, the end of the first month of the current fiscal year, to record the accrued product
b. Journalize the entry to record the warranty work provided in October.
In December 2011, the Edstrom Company, which has a fiscal year ending on December 31. How much revenue will the company report for 2011 and 2012, respectively?
Compute the percentage growth in net sales for each product line from fiscal year 2008 to 2009. Round percents to one decimal.
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the quick chips company a fast food manufacturer began operations in january 2007. it issued 50000 shares of .25 par
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