Requlred Information [The following information applies to the questions displayed below.] 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 $13 and its retail selling price is $60. The company expects warranty costs to equal 8% of dollar sales. The following transactions occurred. November 11 Sold 70 razors for $4,200 cash. November 30 Recognized warranty expense related to November sales with an adjusting entry. December 9 Replaced 14 razors that were returned under the warranty. December 16 Sold 210 razors for $12,600 cash. December 29 Replaced 28 razors that were returned under the warranty. December 31 Recognized warranty expense related to December sales with an adjusting entry. January 5 Sold 140 razors for $8,490 cash. January 17 Replaced 33 razors that were returned under the warranty. January 31 Recognized warranty expense related to January sales with an adjusting entry. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet \begin{tabular}{llllll} 4 & 5 & 6 & 7 & 8 & \end{tabular} Record the sales revenue of 70 razors for $4,200 cash. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 45678 Record the cost of goods sold for 70 razors. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 5678 Record the estimated warranty expense at 8% of November sales. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 1 7 8 12 Record the replacement of 14 razors that were returned under the warranty. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 1 7 8 Record the sales revenue of 210 razors for $12,600 cash. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 1 2 3 4 5 7 8 Record the cost of goods sold for 210 razors. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 1 2 5 8 12 Record the replacement of 28 razors that were returned under the warranty. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 123456 Record the estimated warranty expense at 8% of December sales. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 1 .... 4 5 6 7 8 9 .... Record the sales revenue of 140 razors for $8,400 cash. Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 1 6 7 8 9 Note: Enter debits before credits. Requlred: 1. Prepare journal entries to record above transactions and adjustments. Journal entry worksheet 1 6 7 8 9 Record the adjusting entry for warranty expense for the month of January. Note: Enter debits before credits