Soundgarden Ltd. sold 200 color laser copiers on July 10, 2019, for 4,000 apiece, together with a

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Soundgarden Ltd. sold 200 color laser copiers on July 10, 2019, for £4,000 apiece, together with a 1-year warranty. Maintenance on each copier during the warranty period is estimated to be £330.


Instructions

Prepare entries to record the sale of the copiers, the related warranty costs, and any accrual on December 31, 2019. Actual warranty costs (inventory) incurred in 2019 were £17,000.

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Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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