What Entry Is Required When a Business Estimates Warranty Payable $\begin{array} { |l|} \hlineEstimated ~Warranty ~Payable\\\hlineWarranty ~Expense\\\hline\end{array}$

question 47

Multiple Choice

What entry is required when a business estimates warranty payable each period based on sales revenue?

• A) \(\begin{array} { |l|}
• \hline
• Estimated ~Warranty ~Payable\\
• \hline
• Warranty ~Expense\\
• \hline
• \end{array}\)
• B) \(\begin{array} { |l|}
• \hline
• Warranty ~Expense\\
• \hline
• Sales\\
• \hline
• \end{array}\)
• C) \(\begin{array} { |l|}
• \hline
• Warranty ~Expense\\
• \hline
• Estimated~ Warranty ~Payable\\
• \hline
• \end{array}\)
• D) \(\begin{array} { |l|}
• \hline
• Inventory\\
• \hline
• Estimated ~Warranty ~Payable\\
• \hline
• \end{array}\)

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Definitions:

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