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Question 1 of 5 - 9 Novak Factory provides a 2 - vear warranty with one of its products which was first sold in 2
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Novak Factory provides a vear warranty with one of its products which was first sold in Novak sold $ of products subject to the warranty. Novak expects $ of warranty costs over the next years. In that year, Novak spent $ servicing: warranty ctaims. Prepare Novaks journat entry to record the sales figsore cost of goods sold and the December adjusting entry. assuming the expenditures are inventory costs. If no entry is required, select Wo Entry" for the account bitles and enter Ofor the amounts. Credit account tities are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries
Debit
Credit
To record payment for warranty costs incurred
To record sales
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