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During December, Maxum Company sold 3,700 units of a product that carries a 60-day warranty....

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Accounting

During December, Maxum Company sold 3,700 units of a product that carries a 60-day warranty. December sales for this product total $140,000. The company expects 6% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $18. Record the related adjusting entry.

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