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Monthly sales were $150,000. It was estimated that 4% of the units
sold would have to be replaced under warranty. On the date of sale, the
company should record a debit to (Points : 6)
Sales for $6,000.
Warranty Expense for $6,000.
Warranty Payable for $6,000.
No entry is required since the actual liability amount is not known.
Question 9.9. (TCO 10) The W-2 provides annual information for all of the following except (Points : 6)
gross wages.
net wages.
federal withholding.
state withholding.
Question 10.10. (TCO 10) The 940 is used to report (Points : 6)
Medicare.
Federal Unemployment Tax.
Federal withholding tax.
Social Security.
