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uring August, Boxer Company sells $361,000 in merchandise that has a one year warranty. Warranty...

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Accounting

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uring August, Boxer Company sells $361,000 in merchandise that has a one year warranty. Warranty expense is estimated at 5% of sales. The warranty ability account has a credit balance of $12,300 before adjustment. The entry to record the estimated warranty expense for the month is: Multiple Choice Debit Warranty Expense $8.900; credit Estirrated Warranty Liability $8,900. Debit Estimated Warranty Liability \$5,750; credit Warranty Expense S5,750. Debit Warranty Expense $14,650; credit Estimated Warranty Liability $14,650. Debit Estimated Warranty Liability \$18,050; credit Warranty Expense \$18,050. Debit Warranty Expense $18,050; credit Estimated Warranty Liability $18,050

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