Southwest Company's records indicate that February sales on account were $111,000. The company's management estimates the liability for warranties to be 4.0% of sales. Please provide the journal entry to record warranty expense.
Definitions:
Social Learning Model
A theory which proposes that new behaviors can be acquired by observing and imitating others.
Total Abstinence
The practice of completely refraining from the use of certain substances or partaking in specific behaviors, often related to addiction recovery.
Alcohol
A psychoactive substance found in drinks like beer, wine, and spirits that can alter mood and behavior.
Anxiety
A feeling of worry, nervousness, or unease, typically about an imminent event or something with an uncertain outcome.
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