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Instructions Quantas Iindustries sold $330,000 of consumer electronics during January under a one-year warranty. The cost to repair defects under the warranty is estimated at
Instructions Quantas Iindustries sold $330,000 of consumer electronics during January under a one-year warranty. The cost to repair defects under the warranty is estimated at 5% of the sales price. On June 20, a customer was given $159 cash under terms of the warranty. ournalize the entry to record (a) the estimated warranty expense on January 31 for January sales on page 10 of the journal and (b) the June 20 warranty work on page 14 of the journal. Refer to the Chart of Accounts for exact wording of account bities
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