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Ayayai Company sold 200 color laser copiers on July 10, 2020, for $3,700 apiece, together with a 1-year warranty. Maintenance on each copier during the
Ayayai Company sold 200 color laser copiers on July 10, 2020, for $3,700 apiece, together with a 1-year warranty. Maintenance on each copier during the warranty period is estimated to be $341. Prepare entries to record the sale of the copiers, the related warranty costs, and any accrual on December 31, 2020. Actual warranty costs inventory) incurred in 2020 were $15,390. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 1. 10, 2020 Cash 740,000 Sales Revenue D D 740,0 740,0 ec. 31, 2020 Warranty Expense 68,200 Warranty Liability 68,2 2c 31, 2020 Warranty Liability 15,390 Cash 15,3
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