Accrued Product Warranty

Logan Manufacturing Co. warrants its products for one year. The estimated product warranty is 2.5% of sales. Assume that sales were $398,000 for January. In February, a customer received warranty repairs requiring $410 of parts and $250 of labor.

a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. If an amount box does not require an entry, leave it blank.

	Product Warranty Expense	fill in the blank b05d4702eff1fc3_2	fill in the blank b05d4702eff1fc3_3
	Product Warranty Payable	fill in the blank b05d4702eff1fc3_5	fill in the blank b05d4702eff1fc3_6

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b. Journalize the entry to record the warranty work provided in February. If an amount box does not require an entry, leave it blank.

	Product Warranty Payable	fill in the blank bb415bfcbfb4fe3_2	fill in the blank bb415bfcbfb4fe3_3
	Supplies	fill in the blank bb415bfcbfb4fe3_5	fill in the blank bb415bfcbfb4fe3_6
	Wages Payable	fill in the blank bb415bfcbfb4fe3_8	fill in the blank bb415bfcbfb4fe3_9