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Journal entry worksheet Record the adjusting entry for warranty expense for the month of January. Note: Enber debits before credits. Journal entry worksheet Record the replacement of 33 razors that were returned under the warranty. Note: Enter debits before credits. Journal entry worksheet \begin{tabular}{l|l|l|l|l|l} 1 & 5 & 6 & 7 & 8 & \end{tabular} Record the estimated warranty expense at 7% of November sales. Note: Enter debits before credits. On October 29, Lobo Company began operations by purchasing razors for resale. The razors have a 90 -day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $13 and its retail selling price is $80. The company expects warranty costs to equal 7% of dollar sales. The following transactions occurred. November 11 sold 70 razors for $5,600 cash. November 30 Recognized warranty expense related to November sales with an adjusting entry. December 9 Replaced 14 razors that were returned under the warranty. December 16 sold 210 razors for $16,800 cash. December 29 Replaced 28 razors that were returned under the warranty. December 31 Recognized warranty expense related to December sales with an adjusting entry. January 5 Sold 140 razors for $11,200 cash. January 17 Replaced 33 razors that were returned under the warranty. January 31 Recognized warranty expense related to January sales with an adjusting entry. What is the balance of the Estimated Warranty Liability account as of December 31 ? Journal entry worksheet Record the cost of goods sold for 210 razors. Note: Enter debits before credits. [The following information applies to the questions displayed below.] On October 29, Lobo Company began operations by purchasing razors for resale. The razors have a 90 -day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $13 and its retail selling price is $80. The company expects warranty costs to equal 7% of dollar sales. The following transactions occurred. November 11 Sold 70 razors for $5,600 cash. November 30 Recognized warranty expense related to November sales with an adjusting entry. December 9 Replaced 14 razors that were returned under the warranty. December 16 Sold 210 razors for $16,800 cash. December 29 Replaced 28 razors that were returned under the warranty. December 31 Recognized warranty expense related to December sales with an adjusting entry. January 5 sold 140 razors for $11,200 cash. January 17 Replaced 33 razdirs that were returned under the warranty. January 31 Recognized warranty expense related to january sales with an adjusting entry. 2. How much warranty expense is reported for November and for December? Journal entry worksheet Record the replacement of 28 razors that were returned under the warranty. Note: Enter debits before credits. On October 29 , Lobo Company began operations by purchasing razors for resale. The razors have a 90-day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $13 and its retail selling price is $80. The company expects warranty costs to equal 7% of dollar sales. The following transactions occurred. November 11 Sold 70 razors for $5,600 cash. November 30 Recognized warranty expense related to November sales with an adjusting entry. December 9 Replaced 14 razors that were returned under the warranty. December 16 Sold 210 razors for $16,800 cash. December 29 Replaced 28 razors that were returned under the warnanty. December 31 Recognized warranty expense related to December sales with an adjusting entry. January 5 Sold 140 razors for $11,200 cash. January 17 Replaced 33 razors that were returned under the warranty. January 31 Recognized warranty expense related to January sales with an adjusting entry. 3. How much warranty expense is reported for January? On October 29, Lobo Company began operations by purchasing razors for resale. The razors have a 90-day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $13 and its retail selling price is $80. The company expects warranty costs to equal 7% of dollar sales. The following transactions occurred. November 11 Sold 70 razors for $5,600 cash. November 30 Recognized warranty expense related to November sales with an adjusting entry. December 9 Replaced 14 razors that were returned under the warranily. December 16 Sold 210 razors for $16,800 cash. December 29 Replaced 28 razors that were returned under the warranty. December 31 Recognized warranty expense related to December sales with an adjusting entry. January 5 Sold 140 razors for $11,200 cash. January 17 Replaced 33 razors that were returned under the warranty. January 31 Recognized warranty expense related to January sales with an adjusting entry. Journal entry worksheet Record the cost of goods sold for 70 razors. Note: Enter debits before credits. Journal entry worksheet 145678 Record the sales revenue of 140 razors for $11,200 cash. Note: Enter debies before credits. On October 29 , Lobo Company began operations by purchasing razors for resale. The razors have a 90-day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $13 and its retail selling price is $80. The company expects warranty costs to equal 7% of dollar sales. The following transactions occurred. November 11 Sold 70 razors for $5,600 cash. November 30 Recognized warranty expense related to November sales with an adjusting entry. December 9 Replaced 14 razors that were returned under the warranty. December 16 Sold 210 razors for $16,800 cash. December 29 Replaced 28 razors that were returned under the warranty. December 31 Recognized warranty expense related to December sales with an adjusting entry. January 5 Sold 140 razors for $11,200 cash. January 17 Replaced 33 razors that were returned under the warranty. January 31 Recognized warranty expense related to January sales with an adjusting entry. What is the balance of the Estimated Warranty Liability account lis of January 31? Journal entry worksheet \begin{tabular}{l|l|l|l|l|} \hline & 1 & 2 & & 7 \end{tabular} Record the sales revenue of 210 razors for $16,800 cash. Note: Enter debits before credits. Journal entry worksheet Record the replacement of 14 razors that were returned under the warranty. Note: Enbar debits before credits. Journal entry worksheet 234567 Record the sales retetuve of 70 razors for $5,600 cash. Wote: Enter debits before credits. Journal entry worksheet Record the cost of goods sold for 140 razors. Note: Enter debits before credits. Journal entry worksheet Record the estimated warranty expense at 7% of December sales. Note: Enter debits before credits