Connors company paid $700 cash to make a repair on equipment it sold under a one-year warranty in the prior year. The entry to record the payment will debit:.

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21-06-2022
Business

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Connors company paid $700 cash to make a repair on equipment it sold under a one-year warranty in the prior year. The entry to record the payment will debit:.

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Tundexi Tundexi · Answer 1 · 2022-07-04T17:14:50+02:00

The Journal entry to record the payment will include a debit to Accrued Warranty Payable for $700 and a credit Cash for $700.

What is a Warranty account?

This account is used by firm to allocate expenses for replacing or repairing damaged products for customers.

Hence, for Connors company, the Journal entry to record the payment will include a debit to Accrued Warranty Payable for $700 and a credit Cash for $700.

Connors company paid​ $700 cash to make a repair on equipment it sold under a​ one-year warranty in the prior year. The entry to record the payment will debit:.

Respuesta :

What is a Warranty account?

Otras preguntas

Connors company paid $700 cash to make a repair on equipment it sold under a one-year warranty in the prior year. The entry to record the payment will debit:.