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[The following information applies to the questions displayed below.] On October 29, Lobo Co. 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 $15 and its retail selling price is $60. The company expects warranty costs to equal 5% of dollar sales. The following transactions occurred. Nov. 11 sold 80 razors for $4,800 cash. 30 Recognized warranty expense related to November sales with an adjusting entry. Dec. 9 Replaced 16 razors that were returned under the warranty. 16 sold 240 razors for $14,400 cash. 29 Replaced 32 razors that were returned under the warranty: 31 recognized warranty expense related to December sales with an adjusting entry. Jan. 5 sold 160 razors for $9,600 cash. 17 replaced 37 razors that vore returned under the warranty. 31 Recognized varranty expense related to January sales with an adjuating entry. Journal entry worksheet 34567 Record the sales revenue of 80 razors for $4,800 cash. Note: Enter debits before credits Journal entry worksheet 45 Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the replacement of 16 razors that were returned under the warranty. Note: Enter debits before credits. Journal entry worksheet 67 Record the sales revenue of 240 razors for $14,400 cash. Note: Enter debits before credits. Journal entry worksheet