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Required information [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 $15 and its retail selling price is $70. The company expects warranty costs to equal 5% of dollar sales. The following transactions occurred. November 11 Sold 60 razors for $4,200 cash. November 30 Recognized warranty expense related to November sales with an adjusting entry. December 9 Replaced 12 razors that were returned under the warranty. December 16 Sold 180 razors for $12,600 cash. December 29 Replaced 24 razors that were returned under the warranty. December 31 Recognized warranty expense related to December sales with an adjusting entry. January 5 Sold 120 razors for $8,400cash. January 17 Replaced 29 razors that were returned under the warranty. January 31 Recognized warranty expense related to January sales with an adjusting entry. Journal entry worksheet 1 6 7 8 .... Record the replacement of 12 razors that were returned under the warranty. Note: Enter debits before credits. Journal entry worksheet 1 2 3 ( )... Record the replacement of 24 razors that were returned under the warranty. Note: Enter debits before credits. Journal entry worksheet Record the replacement of 29 razors that were returned under the warranty. Note: Enter debits before credits