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Question 1 Green corporation started its business in 2019. It sold computers and electronics items...

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Question 1 Green corporation started its business in 2019. It sold computers and electronics items for $254,000 in 2019. The company has provided a 2-year limited warranty for all sales. The company's estimate is that warranty costs for the first year will be 1% and will be 3% in the second year. Green Corporation spent $2,550 on warranty repairs during 2019. a. Prepare all journal entries related to the warranty for 2019. b. How will the warranty liability be reported on the balance sheet on Dec 31, 2019? Date Account Debit Credit

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