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Sheffield Company sold 3 9 0 copy - making machines in 2 0 2 0 for $ 2 , 7 0 0 apiece for cash,
Sheffield Company sold copymaking machines in for $ apiece for cash, together with a oneyear warranty. Repair costs on each machine are estimated to be $ during the
warranty period.
Prepare entries to record the sale of the copiers and the related warranty costs, assuming that the accrual method is used. Actual warranty costs inventory incurred in were $If
no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.
Account Titles and Explanation
Debit
Credit
To record sales
To record warranty costs incurred
To record warranty liability
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