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Selected transactions of Sahara Corporation are described below. Required: Using the information provided, record the following journal entries. When calculating interest, do not round intermediate

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Selected transactions of Sahara Corporation are described below. Required: Using the information provided, record the following journal entries. When calculating interest, do not round intermediate amounts, but do round the final amount to the nearest dollar. Use a 365-day year. Sahara offers a 1 -year warranty on the merchandise it sells. 1. Sahara Corporation bought seasonal merchandise inventory from Calais Distributors Inc, by signing a $8,700,6%,60 day note dated November 13,2022. 2. Dec 31 In 2022, Sahara Corporation had sales of $67,400. The cost of the merchandise sold was $43,810. Record the sales and cost of sales in two separate entries. Assume that all sales were on account. 3. Dec 31 - In 2022, Sahara Corporation had sales of $67,400. The cost of the merchandise sold was $43,810. Record the sales and cost of sales in two separate entries. Assume that all sales were on account. 4. Dec 31 - Recorded the adjusting entry to recognize the estimated warranty expense associated with the 2022 sales. Sahara simply replaces defective items returned by customers with new items from inventory. Estimated that . warranty expense will be 8% of sales. 5. Dec 31 - Recorded the adjusting entry for accrued interest on the note. 6. Jan 7 .. Replaced an item under warranty for a customer. The cost of the replacment was $41. 7. Jan 12 . Paid the maturity value of the note due Calais Distributors Inc.. * Note: start ench antruita a whaknod. Journal firguliredt Calcufate the interest and maturity value of the note. Weter Wheo entering dates in the interest Cakid tions table, vie the dd/mmy/rwy format

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