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On 1 June 2022, Echo Beach issued a 3 month, 5%,$12000 note to Zoom Inc for the purchase of a delivery van that cost $25000,
On 1 June 2022, Echo Beach issued a 3 month, 5%,$12000 note to Zoom Inc for the purchase of a delivery van that cost $25000, the remainder was paid in cash. costs. At 30 June 2022, Echo Beach estimates its liability for unexpired warranty contracts as $46,000. Required: Prepare the journal entries to: Record the journal entries for the note including any interest for the period ending 30 June 2022. (2.5 marks) record warranty claims during the period and ( 1.5 marks) end-of-period adjustments to the warranty provision account. ( 1 mark)
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