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What is august journal entry for the estimated liability

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Question - Oak Park Appliances, Inc. sells food processors for $300 with a 120-day warranty against defects. Past experience indicates that 5% of the processors will have some defect during the warranty period and that the necessary repairs and adjustments will cost $50 per defective unit. Sales for August were $438,000. Thirty of the units sold in August were reported defective and repaired in August.

Required - What is the August 31 journal entry for the estimated liability for product warranties for units sold in August?

Reference no: EM133067615

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