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Computer Wholesalers restores and resells notebook computers. It originally acquires the notebook computers from corporations upgrading their computer systems, and it backs each notebook it

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Computer Wholesalers restores and resells notebook computers. It originally acquires the notebook computers from corporations upgrading their computer systems, and it backs each notebook it sells with a 90-day warranty against defects. Based on previous experience. Computer Wholesalers expects warranty costs to be approximately 6% of sales. Sales for the month of December are $570,000. Actual warranty expenditures in January of the following year were $21,500. 2. & 3. Record the necessary entries in the Journal Entry Worksheet below (if no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the contingent liability for warrantie Note: Enter debits before credits Transaction General Journal Deble Credit 1 Record entry Clear entry View general journal Computer Wholesalers restores and resells notebook computers. It originally acquires the notebook computers from corporations upgrading their computer systems, and it backs each notebook it sells with a 90-day warranty against defects. Based on previous experience. Computer Wholesalers expects warranty costs to be approximately 6% of sales Sales for the month of December are $570,000. Actuat warranty expenditures in January of the following year were $21,500 2. & 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the actual warranty expenditures. Note: Enter debits before credito Dobit Credit General Journal Transaction 2 View general Journal Clear entry Record entry B Next

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