On october 10 2013 printfast company sells a commercial, Accounting Basics

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On october 10 2013 printfast company sells a commercial

Problem

On October 10, 2013, Printfast Company sells a commercial printer for $3,250 with a one-year warranty that covers parts. Warranty expense is projected to be 5% of sales. On February 28, 2014, the printer requires repairs. The cost of the parts for the repair is $140 and Printfast pays their technician $240 to perform the repair. What warranty expense is recorded for this printer during 2014?

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Accounting Basics: On october 10 2013 printfast company sells a commercial

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