Valley Trails guarantees its snowmobiles for three years. Company experience indicates that warranty costs will be approximately 4% of sales. Assume that the Valley Trails dealer in Colorado Springs made sales totaling $750,000 during 2024. The company received cash for 30% of the sales and notes receivable for the remainder . Warranty payments totaled $18,000 during 2024 Read the requirements Requirement 1. Record the sales, warranty expense, and warranty payments for the company, ignore cost of goods sold. (Record debits first, then credits. Selo the explanation on the last line of the journal entry table.) Begin with the entry to record the sales. (Prepare a single compound entry for this transaction) Accounts and Explanation Debit Credit 2024 Date Rerner the warranty onante Choose from any list or enter any number in the input fields and then continue to the next question, arranty costs will be approximate s made sales totaling $750,000 during 2024. The company received cash for 30% of the $18,000 during 2024. 1 Requirements X 1. Record the sales, warranty expense, and warranty payments for the company. Ignore cost of goods sold. 2. Assume the Estimated Warranty Payable is $0 on January 1, 2024. Post the 2024 transactions to the Estimated Warranty Payable T-account. At the end of 2024, how much in Estimated Warranty Payable does the company owe? Print Done Der in the input fields and then continue to the next question Valley Trails guarantees its snowmobiles for three years. Company experience indicates that warranty Valley Trails dealer in Colorado Springs made sales totaling $750,000 during 2024. The company rec remainder. Warranty payments totaled $18,000 during 2024. Read the requirements Requirement 2. Assume the Estimated Warranty Payable is $0 on January 1, 2024. Post the 2024 end of 2024, how much in Estimated Warranty Payable does the company owe? Use the T-account to determine the ending balance for the Estimated Warranty Payable account. U of the account and an "End. Bal." posting reference to show the ending balance of the account. (En Estimated Warranty Payable Choose from any list or enter any number in the input fields and then continue to the next Valley Trails guarantees its snowmobiles for three years. Company experience indicates that warranty costs will be approximately 4% of sales. Assume that the Valley Trails dealer in Colorado Springs made sales totaling $750,000 during 2024. The company received cash for 30% of the sales and notes receivable for the remainder . Warranty payments totaled $18,000 during 2024 Read the requirements Requirement 1. Record the sales, warranty expense, and warranty payments for the company, ignore cost of goods sold. (Record debits first, then credits. Selo the explanation on the last line of the journal entry table.) Begin with the entry to record the sales. (Prepare a single compound entry for this transaction) Accounts and Explanation Debit Credit 2024 Date Rerner the warranty onante Choose from any list or enter any number in the input fields and then continue to the next question, arranty costs will be approximate s made sales totaling $750,000 during 2024. The company received cash for 30% of the $18,000 during 2024. 1 Requirements X 1. Record the sales, warranty expense, and warranty payments for the company. Ignore cost of goods sold. 2. Assume the Estimated Warranty Payable is $0 on January 1, 2024. Post the 2024 transactions to the Estimated Warranty Payable T-account. At the end of 2024, how much in Estimated Warranty Payable does the company owe? Print Done Der in the input fields and then continue to the next question Valley Trails guarantees its snowmobiles for three years. Company experience indicates that warranty Valley Trails dealer in Colorado Springs made sales totaling $750,000 during 2024. The company rec remainder. Warranty payments totaled $18,000 during 2024. Read the requirements Requirement 2. Assume the Estimated Warranty Payable is $0 on January 1, 2024. Post the 2024 end of 2024, how much in Estimated Warranty Payable does the company owe? Use the T-account to determine the ending balance for the Estimated Warranty Payable account. U of the account and an "End. Bal." posting reference to show the ending balance of the account. (En Estimated Warranty Payable Choose from any list or enter any number in the input fields and then continue to the next
