AutoSave OF HO ExcelCh13_Question 1 (1) - Excel Search File Home Insert Page Layout Formulas Data Review View Help 12 Liberation Sans A == X LO ab Wrap Text Custom DI CT THI Paste BIU 40 .00 - A- y EE E Merge & Center Insert DE y $ % y Conditional Format as Cell Formatting Table Styles Styles Clipboard Font Alignment Number C M21 F G HIJ L M N 4 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use cell references to the Problem area, with mathematical formulas to calculate any amounts not given. Prepare Leppard's journal entries for the following: AB C D E 1 Formula: Multiply, Divide; Cell Referencing 2 3 BE13.14 - Using Excel to Record Warranty Transactions PROBLEM 5 Leppard Corporation sells DVD players. The corporation also offers its 6 customers a warranty contract. The following information pertains to 7 warranty activity during 2020. 8 9 Warranty contract term 4 years 10 Number of warranty contracts sold 20,000 11 Selling price of each warranty contract $ 99 12 Warranty servicing costs $ 180,000 13 14 Assume the service costs are inventory costs. 15 16 17 18 19 20 21 22 23 (a) The sale of contracts (b) The cost of servicing the warranties contracts (c) The recognition of warranty revenue Credit Debit 1,980,000 (a) Cash Unearned Warranty Revenue 1,980,000 180,000 (b) Warranty Expense Inventory 180,000 (c) Unearned Warranty Revenue Warranty Revenue 24 25 26