PRINTER VERSION BACK NEXT Brief Exercise 13-14 (Part Level Submission) Buffalo Corporation sells DVD players. The corporation also offers its customers a 4-year warranty contract. During 2017, Buffalo sold 20.000 warranty contracts at $90 each. The corporation spent $192,000 servicing warranties dur that an additional $960,000 will be spent in the future to service the warranties. (a) Prepare Buffalo's journal entry for the sale of contracts. Assume the service costs are inventory costs. (If no entry is required, select "No Entry" for the account tities and enter o for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS Attemptsi 2 of 1s used Your answer is correct. Prepare Concord's journal entry for the cost of servicing the warranties. Assume the service costs are inventory costs. (If no entry is required, select " 5. Cred contes de automatic Indented when underved. Do not idem manually Account Tities and Explanation Credit Warranty pense T Inventory Click if you would like to Show Work for this question: Open Show Work Your answer is partially correct. Try again. Prepare Concord's journal entry for the recognition of warranty revenue. Assume the service costs are inventory costs. (Round intermediate calculations to 5 decimal places, .g. 1.55467 and final answers to decimal places, eg. 5,125. If ne entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Account Titles and Explanation Tuneared Warranty Revenue Click If you would like to Show Work for this questionOoen Show Work