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roblem 8-79A (Algorithmic) Varranties Aason Auto Repair specializes in the repair of foreign car transmissions,...

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roblem 8-79A (Algorithmic) Varranties Aason Auto Repair specializes in the repair of foreign car transmissions, To encourage business, Mason offers a 6 -month warranty on all repairs. The followiny vvailable for 2019: Assume that warranty claims are paid in cash. Required: 1. Compute the warranty expense for 2019. 2. Prepare the entry to record the payment of the 2019 warranty ciaims. (Record payment of ctaims) 3. Conceotual Connection: What is the December 31,2019, balance in the estimated warranty llability account? Why has the balance in the estimated warranty liability account changed from January 1, 20197 The balance has because more claims were than were through warranty expense

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