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Super sale company sold 2000 washing machines on March 10, 2011, for $5,000 a piece, together with a l-year warranty. Maintenance on each washing machine
Super sale company sold 2000 washing machines on March 10, 2011, for $5,000 a piece, together with a l-year warranty. Maintenance on each washing machine during the warranty period is estimated to be $220. Actual warranty costs (inventory) incurred in 2011 were $ 9,000. Required: - Prepare entries to record the following: a) Sale of the washing machines. (30marks) b) Related warranty costs. (30marks) c) The accrual on December 31, 2017. (40marks)
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