Prepare journal entries that summarize sales of the awnings (assume all credit sales) and any aspects of the warranty that should be recorded during 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

CHOOSE FROM THE LIST BELOW

No journal entry required

Accounts receivable

Allowance for uncollectible accounts

Bad debt expense

Bonds payable

Cash, wages payable, parts and supplies, etc.

Cost of goods sold

Deferred rent revenue

Deferred sales revenue

Discount on notes payable

Estimated warranty liability

Interest expense

Interest payable

Interest receivable

Interest revenue

Notes payable

Notes receivable

Rent revenue

Salaries and wages expense

Salaries and wages payable

Sales

Warranty expense

Note: Enter debits before credits.

1. Record the 2016 sales.

2. Record the accrued liability and expense.

3. Record the actual expenditures.