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Nov. 1 Made sales of $26,000.McNight estimates that warranty expanse is 5% of sales. (Record only the warranty expense.) 20 Paid $200 to satisfy warranty
Nov. 1 Made sales of $26,000.McNight estimates that warranty expanse is 5% of sales. (Record only the warranty expense.) 20 Paid $200 to satisfy warranty claims. Dec. 31 Estimated vacation benefits expense to be $6,000. 31 McNight expected to pay its employees 6% bonus on net income after deducting the bonus. Net income for the year is $48,000. Journlize the transactions (explanations are not required). (Record debits first, then credits, Exclude explanations from journal entries.) Nov. 1: Made sales of $26,000. McNight estimates that warranty expense is 5% of sales. (Record only the warranty expense.) Nov. 20: Paid $200 to satisfy warranty claims. Choose from any list or enter any number in the input fields and then continue to the next
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