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On December 1, Home Store sells a mower (that costs $170) for $470 cash with a one-year warranty that covers parts. Warranty: expense is estimated
On December 1, Home Store sells a mower (that costs $170) for $470 cash with a one-year warranty that covers parts. Warranty: expense is estimated at 12% of sales. On January 24 of the following year, the mower is brought in for repairs.covered under the warranty requiring $33 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. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 2 Record the mower sales. Note: Enter debits before credits Date December Cash 01 Sales General Journal Debit Credit View general journal Record entry Clear entry On December 1, Home Store sells a mower (that costs $170) for $470 cash with a one-year warranty that covers parts. Warranty expense is estimated at 12% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $33 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 lability, and the January 24 entry to record the warranty repairs. (Round your answers to 2 decimal places.) View transaction fat Journal entry worksheet Record the cost of mower sales. Note: Enter cetits before credits Date December 01 General Journal Debit Credit Record entry Clear entry View general journal > On December 1, Home Store sells a mower (that costs $170) for $470 cash with a one-year warranty that covers parts. Warranty expense is estimated at 12% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $33 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 lability, and the January 24 entry to record the warranty repairs. (Round your answers to 2 decimal places.) View transaction st Journal entry worksheet 3 4 Record the estimated warranty expense. Note: Enter debit before cre Date December 31 General Journal Debit Credit Record entry Clear entry View general journal On December 1, Home Store sells a mower (that costs $170) for $470 cash with a one-year warranty that covers parts. Warranty expense is estimated at 12% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $33 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 lability, and the January 24 entry to record the warranty repairs. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 3 4. Record the cost of warranty repairs. Note: Enter debits before credits Date January 24 General Journal Debit Credi View general journal Clear entry Record entry
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