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Record necessary journal entries applying the accrual basis

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Question - During 2017 BEMP corporation sells for cash 1,300 computers at $5,500 per unit. On the basis of past experience, the 2-year warranty costs are estimated to be $500 per unit. Sales occurred on July 31, 2017. The warranty is not sold separately from the computer. BEMP Corporation spent $75,000 servicing the 2-year warranties during 2017.

Required - Record any necessary journal entries in 2017, applying the accrual basis method.

Reference no: EM132533415

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