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1 Required information The following information applies to the questions displayed below ) On October 2 9 , Lobp Company began operations by purchasing razors

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On October 29, Lobp Company began operations by purchasing razors for resale. The razors have a 90-day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per hew razor is $14 and its retail selling price is $80. The company expects warranty costs to equal 6% of dollar sales. The following transactions occurred
November 11 Sold 66 razors for $4,800 cash.
November 39 Recognized warronty expense related to November sales with an adjusting entry.
December' 9 Reploced 12 razors that were returned under the warranty.
December 16 Sold 180 razors for $14,400 cash.
December 29 Replaced 24 razors that were returned under the warranty.
Decenber 31 Reoghized warranty expense related to Decenber sales with an adjusting entry.
January 5 Sold 12 razors for $9,6ee cash.
January 17 Replaced 29 razors that were returned under the warranty.
January 31 Recognized warranty expense reloted to january sales with an adjusting entry.
3. How much warranty expense is reported for January?
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