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Accounting

The Sanchez Company sold 400 printers in 2002 for $2,000 apiece, together with a one-year warranty. Maintenance on each printer during the warranty period averages $115.

Instructions: Prepare the journal entries to record the sale of the printers and the related warranty costs, assuming that the accrual method is used. Actual warranty costs for 2002 were $8,500.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M956669

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