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Transactions a. Sales of $2,000,000 are subject to an accrued warranty cost of 10%. The accrued warranty payable at the beginning of the year was
Transactions a. Sales of $2,000,000 are subject to an accrued warranty cost of 10%. The accrued warranty payable at the beginning of the year was $40,000, and warranty payments for the year totaled $57,000. b. On September 1, Jasper Electronics signed a $20,000 note payable that requires annual payments of $4,000 plus 8% interest on the unpaid balance beginning September 1, 2022 c. BuyMore, Inc, a chain of discount stores, ordered $145,000 worth of wireless speakers and related products. With its order, BuyMore, Inc sent a check for $145,000 in advance and Jasper shipped $55,000 of the goods. Jasper will ship the remainder of the goods on October 3, 2021. d. Jasper's September payroll of $320.000 is subject to employee withheld income tax of $30.000 and FicA tax of 7.65% On September 30 , Jasper pays employees their take-home pay and accrues all tax amounts. Jasper Electronics completed thesa selected transactions during Seotember 2021 Requirement 1. Ficport these nims on Jasper Electrocics' balance shout at September 30,2021
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