Felix Sales Inc.offers warranties on all its electronic goods.Warranty expense is estimated at 3.5% of sales revenue.In 2015,Felix had $333,000 of sales.In the same year,Felix paid out $8,750 of warranty payments.Provide the journal entry to record the disbursement of warranty payments.

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The Answer of Felix Sales Inc.offers warranties on all its electronic goods.Warranty expense is estimated at 3.5% of sales revenue.In 2015,Felix had $333,000 of sales.In the same year,Felix paid out $8,750 of warranty payments.Provide the journal entry to record the disbursement of warranty payments.