We are hired as consultants to assist Arctica Co. in accounting for its warranty expenses. Arctica offers a one year warranty covering parts on each snowmobile it sells. The following Tableau Dashboard is provided to assist us. Estimated Warranty Expense vs. Actual Warranty Claims $25,000 520,000 Act Warranty Claims Estimated Warranty Expense $15,000 $10,000 Keep Only Exclude 3 Years Ago Estimated Warranty Expense: $11,120 $5,000 $0 4 Years Ago 3 Years Ago 2 Years Ago 1 Year Ago We are hired as consultants to assist Arctica Co. In accounting for its warranty expenses. Arctica offers a one-year warranty covering parts on each snowmobile it sells. The following Tableau Dashboard is provided to assist us. Estimated Warranty Expense vs. Actual Warranty Claims $25,000 $20,000 Actual Warranty Claim Estimated Warranty Expense $15,000 Keep Only Exclude 2 Years Ago Actual Warranty Claims $21,660 $10,000 $5,000 $0 4 Years Ago 3 Years Ago 2 Years Ago 1 Year Ago Estimated Warranty Expense Percentage by Model Current Year Sales by Model 896 796 696 Puma 596 Jag 496 396 296 Lynx Lynx Current Year Sales: $80,000 196 096 Puma Jag Lynx tableau TE TO EN Current Year Sales by Model Estimated Warranty Expense Percentage by Model 896 796 696 Puma 596 Jag 496 Puma Current Year Sales $60,000 396 296 Lynx 196 096 Puma Jag Lynx *** tableau Estimated Warranty Expense Percentage by Model Current Year Sales by Model 896 796 696 Puma 596 Koop Only Exclude 496 Jag Current Year Sales: $105,000 396 296 Lynx 196 096 Puma Jag Lynx *+ableau 1. How much total estimated warranty expense does Arctica report for the current year? 2. Record the adjusting entry at year-end of the current year to recognize warranty expense 3. A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $700. Record the journal entry for this repair Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Record the adjusting entry at year-end of the current year to recognize warranty expense. No Date General Journal Debit Dec 31 Income taxes expenso 13,700 Warranty expense Credit 1 13,700 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $700. Record the journal entry for this repair, Date General Journal Debit Credit Jan 15 No 1 700 700 (Required 2 Required
