Which Journal Entry Would Probably Be Made If the Modified $\quad$

question 101

Multiple Choice

Which journal entry would probably be made if the modified cash basis of accounting for warranties is in use for a sale made in 2014?

• A) 2014
• Warranty Expense \(\quad \)\(\quad \)\(\quad \)\(\quad \)XX
• Estimated Liability under Warranties\(\quad \) XX
• B) 2015
• Estimated Liability under Warranties \(\quad \)\(\quad \)XX
• Cash \(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)XX
• C) 2014
• Cash \(\quad \)\(\quad \)XX
• Sales \(\quad \)\(\quad \)XX
• Unearned Warranty Revenue \(\quad \)XX
• D) 2015
• Warranty Expense \(\quad \)\(\quad \)XX
• Cash\(\quad \)\(\quad \)\(\quad \) XX

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Definitions:

Prolonged Eye Gazing

A form of non-verbal communication that involves two individuals looking into each other's eyes for an extended period, which can intensify emotional connections.

Contraction of The Pupils

A physiological response where the pupils decrease in size, typically in response to increased light exposure or during focus on near objects.

Empathy

The skill of recognizing and sympathizing with another person's feelings.

Facial Feedback Effect

The hypothesis that facial movement can influence emotional experience, suggesting that the act of smiling can make one feel happier.