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Exercise 13-11 Early in 2017, Oriole Equipment Company sold 500 Rollomatics during 2017 at $6,000 each. During 2017, Oriole spent $21,000 servicing the 2-year assurance
Exercise 13-11 Early in 2017, Oriole Equipment Company sold 500 Rollomatics during 2017 at $6,000 each. During 2017, Oriole spent $21,000 servicing the 2-year assurance warranties that accompany the Rollomatic. All applicable transactions are on a cash basis. Prepare 2017 entries for Oriole. Assume that Oriole estimates the total cost of servicing the warranties will be $60,000 for 2 years. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date LINK TO TEXT VIDEO: SIMILAR EXERCISE
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