Vou receruced partial credit in the prewious attempt. Required information IThe following intomation appiies to the questions displayed beiow? On Oetober 29, Lobo Company begasn aperatinns by purchnsing tazors far resale. The razors have a 90 day warrarity. Where 8 razer is returned, the edrmpary discaress it and mails 8 new ane from Mercharcdise Irvertary to the eusterner. The compsry's cost per new razor is $15 and its retail senling price is 580 . Tho comparly cxpects warrarity coets to equal 9 an af dollse salce. The fellowing transintiar?s accurred. Required: 1. Prepere joumal entries to record above transactions and acjustments. You received no credit for this question in the previous attempt, Required information [The following infomation appiies to the questions disclayed beiow? On October 29, Lobo Company begarl dperatians by purchssing razors far resiale. The razors have a 90 day warrar?ty. dollse salce. The fellowing transinctioris accurred. Nowerber 10 Roaojnized rerranty cxpenee related to jowenter salcs with an adjustiag entry, Decedier 26 Sold 130 razore for \$14,400 azh. Deremare 29 Reglaced 21 razers that were returned unier the warmanty- January 5 Solc 120 razore tor $9 , 600 cana, Januarg 11 Pocognded werranty expenee related to Januarg ealee wita an acjusting entry. 2. How much warranty expense is reported for Nowember and for December? You received no credit for this question in the previous attempt, Required information [The following infomation appiies to the questions disclayed beiow? On October 29, Lobo Company begarl operatiars by purchesing razors far ressale. The razors hawe a 90 day warrarity. When 8 razer is returned, the carmpniry discarcss it and mails a new ane from Merchandise Irverntary to the custarner. The compxry's cost per new razar is $15 and its retail selling price is 580 . The comparly expects werrarity coests to calas 9 af dollse salck. The fellewing transintior?s accurred. Nowerber 10 Roaojnized rerranty cxpenee related to jowenter salcs with an adjustiag entry, Decedier 26 Sold 130 razore for \$14,400 azh. Deremare 29 Reglaced 21 razers that were returned unier the warmanty- January 5 Solc 120 razore tor $9 , 600 cana, January 11 Pocognded werranty expenee related to Januarg ealee wita an acjusting entry. 3. How much wantanty expense is reported for J anuary? You received no credit for this question in the previous attempt, Required information [The following infomation appiies to the questons disclayed beiow? On October 29, Labo Company begarl aperatiar?s by purchnsing razors far resale. The razors have a 90 day warrarity. When a razor is returned, the carmpsmy discaress it and mails a new arse from Merchandise lrvertary ta the custorner. The comparly's cost per new razar is $15 and its retail selling price is 580 . The comparly expects warrarity coests to egusl 9% uf dollse salck. The fellowing transintiar?s accurred. 4. What is the balance of the Estlmated W'amanty Llability account as of Cecember 31 ? You received no credit for this question in the previous attempt, Required information [The following information appiies to the questions disolayed beiow? On Oetober 29, Lobo Company begarn aperatiners by purchssing razors far resale. The razors have a 90 day warrartity. When 8 razer is returried, the campary discares it and mails 8 new ane from Merchandise Irveritary to the custarner. The dollse saice. The fellowing transintiar?s accurred. 5. What is the balence of the Estimated Warranty Llalility account as of January 31
