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solve through ms-word Q2. On December 31, 2015, Dicker Company sells equipment to Tabor Inc. for $62,500. Dieker includes a 1-year assurance warranty service with
solve through ms-word
Q2. On December 31, 2015, Dicker Company sells equipment to Tabor Inc. for $62,500. Dieker includes a 1-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on December 31, 2015. Dieker estimates the prices to be $61,000 for the equipment and $1,500 for the cost of the warranty. Instructions (a) Prepare the journal entry to record this transaction on December 31, 2015. (b) Repeat the requirements for (a), assuming that in addition to the assurance warranty, Dicker sold an extended warranty (service type warranty) for an additional 2 years (2017-2018) for $1.000Step by Step Solution
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