PLEASE DO NOT ANSWER IF YOU ARE NOT SURE.

LIST OF ACCOUNTS ARE AS FOLLOWS

Accounts Payable Accounts Receivable Accretion Expense Accumulated Depletion - Mineral Resources Asset Retirement Obligation Bonus Expense Bonus Payable Cash Cost of Goods Sold CPP Contributions Payable Depreciation Expense EI Premiums Payable Employee Benefit Expense Employee Income Tax Deductions Payable Estimated Inventory Returns Estimated Liability for Premiums Freight-in Freight-out Furniture and Fixtures Gain on Settlement of ARO GST Payable GST Receivable Health Insurance Premiums Payable HST Payable HST Receivable Income Tax Expense Income Tax Payable Income Tax Receivable Interest Expense Interest Income Interest Payable Interest Receivable Inventory Inventory of Premiums Land Improvements Litigation Expense Litigation Liability Loss on Redemption of Bonds Loss on Restructuring of Debt Loss on Settlement of ARO Machinery Mineral Resources No Entry Notes Payable Notes Receivable Parental Leave Benefits Payable Payroll Tax Expense Payroll Taxes Payable Premium Expense Premium Liability PST Payable PST Receivable Purchase Discounts Purchase Discounts Lost Purchase Returns and Allowances Purchases Refund Liability Rent Expense Rent Payable Rent Revenue Retained Earnings Returnable Deposits Salaries and Wages Expense Salaries and Wages Payable Sales Returns and Allowances Sales Revenue Service Revenue Sick Pay Wages Payable Trucks Unearned Revenue Unearned Sales Revenue Unearned Subscriptions Revenue Unearned Warranty Revenue Union Dues Payable Vacation Wages Payable Warranty Expense Warranty Liability Warranty Revenue

Additional Problem 8 (Part Level Submission) Wildhorse Corp. manufactures a wide range of equipment. The company's biggest seller is the Whatchamacallit, which sells for $4,670 each. Each Whatchamacallit carries with it a 2-year warranty against manufacturing defects. In addition to this warranty, customers can purchase an optional extended warranty for $1,660 extra that extends the Whatchamacallit's warranty an additional 2 years. From experience, Wildhorse Corp. has determined that each Whatchamacallit sold wil average $1,010 in replacement parts (ignore labour costs for repairs). In 2017, the company sells 540 Whatchamacallits; 310 of these customers decide to purchase the optional extended warranty. Also in 2017, the company incurred $223,700 in total repair costs (replacement parts out of inventory) ? (a) Your answer is partially correct. Try again Prepare the journal entry to record the sale of the Whatchamacallits and the extended warranties (sales would take place throughout the year; prepare only one entry at December 31, 2017 for the total sales). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Cash 1976400 Sales Revenue 1461800 Unearned Warranty Revenue 514600 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT