Provide the journal entry for the estimated warranty


Zinn Co. sold $500,000 of equipment during May under a one-year warranty. The cost to repair defects under the warranty is estimated at 5% of the sales price. On October 10, a customer required a $100 part replacement, plus $65 of labor under the warranty.

Provide the journal entry for (a) the estimated warranty expense on May 31 and (b) the October 10 warranty work.

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Accounting Basics: Provide the journal entry for the estimated warranty
Reference No:- TGS0801134

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