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Kim's Athletics sells bicycles and other sports and athletic equipment. Sales and expected warranty claims...

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Accounting

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Kim's Athletics sells bicycles and other sports and athletic equipment. Sales and expected warranty claims for the year are as follows: 1. Prepare the entry to record warranty expense for Kim's for the year. If an amount box does not require an entry, leave it blank. 2. Conceptual Connection: Why does Kim's have to record a liability for future warranty claims? Warranties are - Therefore, companies must record and a corresponding if such contingent amounts are

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