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Accrued Product Warranty Lachgar Industries disclosed estimated product warranty payable for comparative years as follows: ( in millions) Year 2 Year 1 Current estimated product

Accrued Product Warranty

Lachgar Industries disclosed estimated product warranty payable for comparative years as follows:

( in millions)
Year 2 Year 1
Current estimated product warranty payable $16,872 $16,176
Noncurrent estimated product warranty payable 10,262 9,045
Total $27,134 $25,221

Presume that Lachgars sales were $219,860 million in Year 2. Assume that the total paid on warranty claims during Year 2 was $17,394 million.

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b. Provide the journal entry for the Year 2 product warranty expense.

blank CashProduct Warranty ExpenseProduct Warranty PayableSuppliesWages PayableProduct Warranty Expense Product Warranty: Expense
CashProduct Warranty ExpenseProduct Warranty PayableSuppliesWages PayableProduct Warranty Payable Product Warranty Payable:

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