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What is the effect of warranty expense and warranty claims

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Reference no: EM132973158

Question - McBride Industries completed the following transactions during 2018:

Oct. 1 - Made sales of $10,000. McBride estimates that warranty expense is 5% of sales. (Record only the warranty expense.)

Oct. 24- Paid $250 to satisfy warranty claims.

Required - What is the effect of warranty expense and warranty claims on earnings?

Reference no: EM132973158

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