Roy electric re owed estimated warranty payable of 1 200 at, Accounting Basics

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Roy electric re owed estimated warranty payable of 1 200 at

Problem

Roy Electric (RE) owed Estimated Warranty Payable of $1, 200 at the end of 2015. During 2016, RE made sales of $110,000 and expects product warranties to cost the company 2% of the sales. During 2016, RE paid $2, 700 for warranties. What is RE's Estimated Warranty Payable at the end of 2016?

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Accounting Basics: Roy electric re owed estimated warranty payable of 1 200 at

Reference No:- TGS02766514

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