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Posted on Jul 20, 2024

on January 3, 2022, Big company sells equipment to Small inc for $100,000 cash. The sale includes a 1-year assurance warranty service with the sale

on January 3, 2022, Big company sells equipment to Small inc for $100,000 cash. The sale includes a 1-year assurance warranty service with the sale of the equipment. In addition to the assurance warranty Big sold an extended warranty for an additional two years for $1,600 cash.

Prepare the entry to record this transaction.

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