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A Company estimates that warranty costs will equal 2% of sales. In September, total sales...

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Accounting

A Company estimates that warranty costs will equal 2% of sales. In September, total sales equaled $400,000 and warranty claims were $4,700. If the September ending balance in warranty payable was $7,200, what was the September beginning balance in warranty payable?

A. $ 3,300

B. $ 3,900

C. $ 8,000 D. $10,500

E. $10,800

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