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I need help with this problem for my accounting class. Scroll down to complete all parts of this task. To increase sales, Cougar Co. offers

I need help with this problem for my accounting class. image text in transcribed
Scroll down to complete all parts of this task. To increase sales, Cougar Co. offers a standard warranty plan to be implemented at the beginning of Year 10. This warranty plan cannot be purchased separately by customers. Based on industry experience, estimates are that warranty costs will equal 9% of sales for the first year. After implementation of this plan in January, Year 10, sales of goods under warranty equaled $4,000,000. To prepare each required journal entry: . Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. Enter the corresponding debit or credit amount in the associated column. Round all amounts to the nearest whole number. Not all rows in the table might be needed to complete each journal entry. If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Record the journal entries for January Year 10 for each warranty transaction. Over the course of Year 10, Cougar incurred $200,000 in rework, shipping, and labor costs related to varranty claims. Record the adjusting entry to reflect the activity. No Entry Required Account Name Debit Credit

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