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What adjusting entry yearend related to warranty costs

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Question - In 2018, Corp sells 10,000 machines for $550 each. Machines each carry a 2-year warranty. Corp estimates total warranty costs will be $180 per washing machine and uses the expense warranty approach to record warranty costs. During 2018, Corp incurs $1,135,000 in actual warranty costs for the washing machines sold in 2018. What adjusting entry 2018 yearend related to warranty costs for the washing machines should include?

Reference no: EM132593577

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