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On August 1, 2016, Pereira Corporation has sold, on account, 1,700 Wiglows to Mendez Company at $480 each. Mendez also purchased a 1-year service-type warranty
On August 1, 2016, Pereira Corporation has sold, on account, 1,700 Wiglows to Mendez Company at $480 each. Mendez also purchased a 1-year service-type warranty on all the Wiglows for $12 per unit. In 2016, Pereira incurred warranty costs of $9,000. Costs for 2017 were $8,400.
Required:
1. | Prepare the journal entries for the preceding transactions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2. | CHART OF ACCOUNTS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pereira Corporation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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