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On December 1, Home Store sells a mower (that costs $220) for $520 cash with a one-year warranty that covers parts. Warranty expense is

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On December 1, Home Store sells a mower (that costs $220) for $520 cash with a one-year warranty that covers parts. Warranty expense is estimated at 8% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $36 in materials taken from the Parts Inventory. Prepare the December 1 entry to record the mower sale (and cost of sale), the December 31 adjusting entry for estimated warranty liability, and the January 24 entry to record the warranty repairs. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet 1 2 3 4 Record the mower sales. Note: Enter debits before credits. Date December 01 General Journal Debit Credit Record entry Clear entry View general journal >

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