Solution-What balance should JJ Electronics report in its

What balance should JJ Electronics report in its warranty

Reference no: EM133141726

Question - JJ Electronics grants a 2 year warranty on all television sets it sells. Historically approximately 5% of all sales prove to be defective. Sales during 2010 totaled $425,000 and $8,000 of defective television sets were returned for replacement. Assuming JJ electronics reported a balance in its warrany liability account on December 31, 2009 of $12,000, what balance should JJ Electronics report in its warranty liability account on December 31, 2010?

Reference no: EM133141726

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What balance should JJ Electronics report in its warranty

Reference no: EM133141726

Reference no: EM133141726

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