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On September 1 Home Store sells a mower (that costs $120) for $420 cash with one year warranty that covers parts, Warranty expense is estimated

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On September 1 Home Store sells a mower (that costs $120) for $420 cash with one year warranty that covers parts, Warranty expense is estimated at 6% of sales. On January 24 of the following year the mower is brought in for repairs covered under the warranty requiring $29 in materials taken from the Repair Parts Inventory Prepare the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs (Round your answers to 2 decimal places.) Answer is not complete. No 1 Date Sep 01 General Journal Credit Cash Sales Debit 420.00 420.00 2 Sep 01 No Transaction Recorded 3 Sep 01 Warranty expense Estimated warranty labit 35.00 00

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