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Required information Skip to question [The following information applies to the questions displayed below.] Hitzu Company sold a copier (that costs $7,500) for $15,000 cash

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[The following information applies to the questions displayed below.] Hitzu Company sold a copier (that costs $7,500) for $15,000 cash with a two-year parts warranty to a customer on August 16 of Year 1. Hitzu expects warranty costs to be 4% of dollar sales. It records warranty expense with an adjusting entry on December 31. On January 5 of Year 2, the copier requires on-site repairs that are completed the same day. The repairs cost $128 for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier.

Analyze each of the following transactions: (a) the copiers sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1; and (c) the repairs that occur on January 5 of Year 2. Show each transactions effect on the accounting equationspecifically, identify the accounts and amounts (including + or ) for each. (Enter all amounts as positive value.)

Date Assets = Liabilities + Equity
August 16 = +
August 16 = +
December 31 = +
January 5 = +

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