warranty costs because
Estimates of future events are made and the cost to the business is charged to income in the period of sale
None of the other alternatives are correct
The expense is debited directly to Retained Earnings and does not appear on the income statement
All the three statements about allowances are correct
Both the Allowance for Uncollectible Accounts and the Allowance for Warranties are liability accounts?this answer is wrong
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Apr 19, 2020EXPERT
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