JOURNAL ENTRIES WARRANTIES

25. Jonus.Bike.Inc.,. manufactures.and.sells.high-end. bicycles. . Each.bicycle. that.the.company. sells.comes-with-a-5-year.unlimited-warranty.. Based on.past experience, Jonus .accountant. estimates.that.for.every.$3,000-worth-of sales, Jonus.will-have.to pay.out. $66-in-warranty. costs. 1 Do.not.enter.dollar-signs.or.commas.in.the.input.boxes,~ a).This year, Jonus.Bike.Inc. had.sales.of.$1,080,000. First, . calculate. the estimated.warranty. costs-based on. the accountant's analysis.~ Date Account-Title-and-Explanation: Debit Credita Dec.31xx Answer Ja Answerl Answerl Answerl Record-warranty . liabilitya b).As.part.of. the.warranty. program, . Jonus-had.to make-repairs. to- the-seat.post.of.30. bicycles.that.he sold. Jon Jonus.spent $1,550.cash..Prepare. the-journal-entry.to- record. this. transaction.1 Date Account-Title-and-Explanation Debit Credita Dec.310 Answer a Answerl Answerl Answer Record-warranty.repairsa