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What is the entry to record disbursal of warranty payments

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    Assignment ID: FG133135926

    Question – Harmonica Sales Company offers warranties on all their electronic goods. Their warranty expense is estimated at 2% of sales revenue. In 2018, Franconia had $500,000 of sales. In the same year, Franconia paid out $7,500 of warranty payments. What is the entry to record the disbursal of warranty payments?

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