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Culver Ltd. sold 240 color laser copiers on July 10, 2020, for 4,100 apiece, together with a 1-year warranty. Maintenance on each copier during
Culver Ltd. sold 240 color laser copiers on July 10, 2020, for 4,100 apiece, together with a 1-year warranty. Maintenance on each copier during the warranty period is estimated to be 345. 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 16,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credi July 10, 2020 During 2020 December 31, 2020
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