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Jerry Jones sells comericial grade snowblowers. Based on company statistics, Jones has determined that 1% of sales will require warrantly work during the one year

Jerry Jones sells comericial grade snowblowers. Based on company statistics, Jones has determined that 1% of sales will require warrantly work during the one year warrantly period. This year's sales were $100K.

Prepare the year end adjusting journal entry.

Prepare the journal entry to record warrantly repairs that included $100 of labor and $25 of parts?

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