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 4% of sales. Sales for the month of December are $580,000. Actual warranty expenditures in January of the following year were $22,000. Required: 1. Record warranty expense and warranty liability for the month of December based on 4% of sales. 2. Record the payment of the actual warranty expenditures of $22,000 in January of the following year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the payment of the actual warranty expenditures of $22,000 in January of the following year. Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. View transaction list Journal entry worksheet 1 Record the actual warranty expenditures. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal

Computer Wholesalers restores and resells notobook 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 4% of sales. Sales for the month of December are $580,000. Actual warranty expend tures in January of the following year were $22,000. Required: 1. Record warranty expense and warranty Eabitity for the month of December based on 4% of sales. 2 . pecord the payment of the actual warranty expenditures of $22,000 in January of the following yeat. Complete this question by entering your answers in the tabs below. Record the payment of the actual warranty expenditures of $22,000 in January of the following year: Note: if no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Journal entry worksheet Aecord the sctuat warranty expenditures. Enter debita tefure orsdes