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Required information

Problem $9-4$A $($Algo$)$ Estimating warranty expense and liability LO P$4$

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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 $$14$ and its retail selling price is $$90.$ The company expects warranty costs to equal $6\%$ of dollar sales. The following transactions occurred.Problem $9-4$A $($Algo$)$ Part $1$

Required:

$$ journal entrys

$$ waranty expenses for november

$$ warranty expenses for december

$$ warranty expense for january

$$ estimated warranty liability acct as of december $31$

$$ estimated warrantt liability acct as of january $31$

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