Current Attempt in Progress

Sheffield Company sold $390$ copy$-$making machines in $2020$ for $$2,700$ apiece for cash, together with a one$-$year warranty. Repair costs on each machine are estimated

to be $$320$ during the warranty period.

Prepare entries to record the sale of the copiers and the related warranty costs, assuming that the accrual method is used. Actual warranty costs $($inventory$)$ incurred in

$2020$ were $$22,400.($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is

entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit

$($To record sales$)$

$($To record warranty costs incurred$)$

$($To record warranty liability$)$

eTextbook and Media

List of Accounts