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only need help with letter C Macy Furnture seils a ane of products that carry a thice year warranty agarst defects at no eutra charge,
only need help with letter C Macy Furnture seils a ane of products that carry a thice year warranty agarst defects at no eutra charge, Hased on industry eupenence, the erornated warranty couts are as follows first year following the year of sale. 14 of sales secend yeor following the year of sale, 3% of sales; and thind year following the year of sale. 5% of sales. Sales and actuat warranify expenditires for the firnt theeeyear period foliow Reuired a. Provicu entries for each of the three years for (1) credit sales, Qi) estimated warrancy expense, and (3) achual warranty cash expendkures. b. What anount should be reported as a liabilify on the balance sheet at the end of each year? C. Assume instead that at the start of year-4, the compary changed its estimate of the second year atter sale to 2% of sales facher than 3 th. Provide the adpusting entryaf required to aquist for warranty expense recognized in prior years. Note found your answers to the nearest whole dollar. Note: If a line in a joumal entry sny required for the wansaction select 'N/A - Debit accoumt' or "NiA- Credit account' as the account names and leare the Dr. ard Cri answers blanik Gcerol
only need help with letter C
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