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Early in 2020, Ayayai Equipment Company sold 400 follomatics at $6,400 each. During 2020, Ayryai spent $22,000 servicinig the 2year assurance warranties that accompany the

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Early in 2020, Ayayai Equipment Company sold 400 follomatics at $6,400 each. During 2020, Ayryai spent $22,000 servicinig the 2year assurance warranties that accompany the Rollomatic. All sales transactions are on a cash basis. (a) Prepare 2020 entries for Ayayal. Assume that Ayayai estimates the total cost of servicing the warmanties in the second year will be \$38,000, If no entry is required, select "No Entry" for the occount bliles and enter Of for the dinounts Credit occount titles ore outomatically indented when amount is entered, Do not indent monuiall. Record joumal entries in the order presented in the problem. automatically indented when amount is entered. Do not indent manuolly, Record joumal entries in the order. presented in the

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