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Tableau DA 9-2 (Static): Exercise, Warranty expense and liability computations and entries LO P4

We are hired as consultants to assist Arctica Co. in accounting for its warranty expenses. Arctica offers a one-year warranty covering parts on each snowmobile it sells. The following Tableau Dashboard is provided to assist us.

1. How much total estimated warranty expense does Arctica report for the current year?

2. Record the adjusting entry at year-end of the current year to recognize warranty expense.

3. A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $700. Record the journal entry for this repair.

Wo are hured as consuliants to assiat Arctca Co in accounting for ifs wananty expenses. Arctica offers a ene yeer warenty comining paits on each showmoble it sells. The following Tableau Davhooord is provided to sssist is 1. How much total estimated warranty expense does Arctico report for the current year? 2. Record the adjusting entry at year-end of the current year to recognize warranty expense 3. A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost 5700 Record the journal entry for this repair. Complete this question by entering your answers in the tabs below. How much total estimated warranty expense does Arctica report for the current year