Florida Keys Construction installs swimming pools. It calculates that warranty obligations are 3% of sales. For the year just ending, Florida Keys' sales were $1,450,000. Previous quarterly entries debiting Product Warranty Expense totaled $28,700. Determine the estimated warranty expense for the year? Journal entry necessary to bring the account to the needed balance at December 31. If an amount box does not require an entry, leave it blank. Dec. 31 fill in the blank fill in the blank fill in the blank fill in the blank

Florida Keys Construction installs swimming pools. It calculates that warranty obligations are 3% of sales. For the year just ending, Florida Keys' sales were $1,450,000. Previous quarterly entries debiting Product Warranty Expense totaled $28,700. Determine the estimated warranty expense for the year? Journal entry necessary to bring the account to the needed balance at December 31. If an amount box does not require an entry, leave it blank. Dec. 31 fill in the blank fill in the blank fill in the blank fill in the blank

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 7PA: Emperor Pool Services provides pool cleaning and maintenance services to residential clients. It...

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