Question

Super sale company sold 2000 washing machines on March 10, 2011, for $5,000 a piece, together with a 1-year warranty. Maintenance on each washing machine during the warranty period is estimated to be $220. Actual warranty costs (inventory) incurred in 2011 were $ 9,000. Required: -

Prepare entries to record the following:

a) Sale of the washing machines.

b) Related warranty costs.

c) The accrual on December 31, 2011.

Note: I needed detailed answer and please "do not copy paste" from "chegg"