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On December 1 , Home Store sells a mower ( that costs $ 3 1 0 ) for $ 6 1 0 cash with a
On December Home Store sells a mower that costs $ for $ cash with a oneyear warranty that covers parts. Warranty expense is estimated at of sales. On January of the following year, the mower is brought in for repairs covered under the warranty requiring $ in materials taken from the Parts Inventory.Prepare the December entry to record the mower sale and cost of sale the December adjusting entry for estimated warranty liability, and the January entry to record the warranty repairs.
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