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Business, 02.11.2020 17:00 hannahcolleen4895

ABC Company sells 300 machines for $5000 each in the current year. Each machine carries a one-year warranty. Experience from the sale of similar machines in the past show warranty costs will average $100 per machine. ABC Company spent $10,000 to fulfill warranty agreements in the current year. What is the journal entry to accrue the remainder of warranty costs in the current year

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