McFarlane Industries completed the following transactions during $2025$:

View the transactions.

Journalize the transactions. Explanations are not required. Round to the nearest dollar. $($Record debits first, then credits. Exclude explanations from journal entries.$)$

Nov. $1$: Made sales of $$16,000.$ McFarlane Industries estimates that warranty expense is $5\%$ of sales. $($Record only the warranty expense.$)$

Transactions

Nov. $1$ Made sales of $$16,000.$ McFarlane Industries estimates that warranty

expense is $5\%$ of sales. $($Record only the warranty expense.$)$

Nov. $20$

Paid $$450$ to satisfy warranty claims.

Dec. $31$

Estimated vacation benefits expense to be $$1,400.$

Dec. $31$

McFarlane Industries expected to pay its employees a $4\%$ bonus on

net income after deducting the bonus. Net income for the year before

the bonus calculation is $$25,000.$

 

McFarlane Industries completed the following transactions during 2025: View the transactions. Journalize the transactions. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Nov. 1: Made sales of $16,000. McFarlane Industries estimates that warranty expense is 5% of sales. (Record only the warranty expense.) Date Nov. 1 Transactions Nov. 1 Nov. 20 Dec. 31 Dec. 31 Accounts Debit Credit Made sales of $16,000. McFarlane Industries estimates that warranty expense is 5% of sales. (Record only the warranty expense.) Paid $450 to satisfy warranty claims. Estimated vacation benefits expense to be $1,400. McFarlane Industries expected to pay its employees a 4% bonus on net income after deducting the bonus. Net income for the year before the bonus calculation is $25,000. Print Done - X