Sold gift cards totaling

$$7,000.$

Recorded a contingent

loss on a lawsuit that the

Increase

company will probably

lose.

Accrued warranty

expense.

Paid warranty costs that

were accrued in item $13$Presented below is a list of possible transactions.

Analyze the effect of the $18$ transactions on the financial statement categories indicated.

Purchased inventory for

$$80,000$ on account

$($assume perpetual system is

used$).$