ezlomneducation.com Catalog - ELP FL/TXI I Northwest Linema. Wildwood Travel Trailers I Forest River RV - Manufacturer of te M Connect Ch 9: Homework Saved Help Save & Exit Check my 3 Part 1 of 5 On October 29, Lobo Co. began operations by purchasing razors for resale. The razors have a 90-day warranty When a razor is returned, the company discards it and mails a new one from Merchandise inventory to the customer. The company's cost per new razor is $20 and its retail selling price is $75. The company expects warranty costs to equal 8% of dollar sales. The following transactions occurred. Nov. 11 Sold 105 razors for $7,875 cash. 30 Recognized warranty expense related to November sales with an adjusting entry. Dec. 9 Replaced 15 razors that were returned under the warranty. 16 Sold 220 razors for $16,500 cash. 29 Replaced 30 razors that were returned under the warranty. 31 Recognized warranty expense related to December sales with an adjusting entry. Jan. 5 Sold 150 razors for $11,250 cash. 17 Replaced 58 razors that were returned under the warranty. 31 Recognized warranty expense related to January sales with an adjusting entry. 1 points eBook References 1. Prepare journal entries to record above transactions and adjustments, View transaction list Journal entry worksheet Widwood Travel Trailer | Forest River RV - Manufacturer of The 2021 Career Program Catalog-ELP (FL/TX) I Northwest Linens... Ch 9: Homework Saved Help 3 Required information View transaction list Part 1 of 5 Journal entry worksheet 1 points ity View transaction list Part 1 of 5 Journal entry worksheet 1 points 8 IG etv A 3 Required information View transaction list Part 1 of 5 Journal entry worksheet 1 points 8 View transaction list Part 1 of 5 Journal entry worksheet points eBook Record the cost of goods sold for 220 razors. Ask References Note: Enter debits before credits Date General Journal Debit Credit Dec 16 Record entry Clear entry View general journal MC GEN Hall & Journal entry worksheet 1 points g 00 v View transaction list of 5 Journal entry worksheet 1 2 3 4 5 6 7 8 12 Book Record the estimated warranty expense at 8% of December sales. erences Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal vic S 8 C Required information View transaction list Part 1 of 5 Journal entry worksheet 1 points 4 5 6 7 8 9 12 eBook Record the sales revenue of 150 razors for $11,250 cash. Ask References Note: Enter debits before credits Date General Journal Debit Credit Jan 05 Record entry Clear entry View general Journal ME GE Hill 8 ety 3 Required information View transaction list Part 1 of 5 Journal entry worksheet 1 points ... 5 6 7 8 9 10 12 eBook Record the cost of goods sold for 150 razors. Ask References Note: Enter debits before credits General Journal Debit Credit Date Jan 05 Record entry Clear entry View general journal Mc G Hall et A 3 Required information View transaction list Part 1 of 5 Journal entry worksheet 1 points 9 8 3 Required information View transaction list Part 1 of 5 Journal entry worksheet 1 points 1 5 6 ..... 7 8 11 9 10 12 Book Record the adjusting entry for warranty expense for the month of January. Ak References Note: Enter debits before credits Date General Journal Debit Credit Jan 31 Record entry Clear entry View general journal Mc GE HI
