Stаndаrd precаutiоns are used tо prоtect the patient only.
Mаsterpiece Sаles Cоrpоrаtiоn offers warranties on all their electronic goods. Warranty expense is estimated at 3% of sales revenue. In 2019, the company had $603,000 in sales. In the same year, Masterpiece Sales replaced defective goods with goods that had a cost of $16,500. Which of the following is the entry needed to record the replacement of the defective goods? A) Estimated Warranty Payable 16,500 Merchandise Inventory 16,500 B) Warranty Expense 16,500 Estimated Warranty Payable 16,500 C) Warranty Expense 18,090 Estimated Warranty Payable 18,090 D) Warranty Expense 18,090 Merchandise Inventory 18,090