Chocolate milk sold 150 milk machines in 2014 for 5000


Chocolate Milk sold 150 milk machines in 2014 for $5,000 apiece, together with a one-year warranty. Maintenance on each milk machine during the warranty period averages $450 based on prior experience. Prepare the entries to record the sale of the milk machines and the related warranty costs, assuming the accrual method is used. Actual warranty costs incurred in 2014 were $16,000.

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Financial Accounting: Chocolate milk sold 150 milk machines in 2014 for 5000
Reference No:- TGS01697245

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