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Warranties Moon Electronics sells television sets and other sound and video equipment. Sales and expected...

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Accounting

Warranties Moon Electronics sells television sets and other sound and video equipment. Sales and expected warranty claims for the year are as follows: Item Unit Sales Expected Warranty Claims for Warranty Period Cost per Claim Televisions 1,400 1 claim per 100 sold $66 DVD 300 10 claims per 100 sold 37 Speakers 2,300 4 claims per 100 sold 42 Hide Prepare the entry to record warranty expense for Moon Electronics for the year. (Record warranty expense)

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