What would be the account name for the very bottom. I've tried
cash and then salaries and wages expense
Homework Answers
Journal entry
| Account titles and explanation | Debit | Credit |
| Unearned warranty revenue | 6561 | |
| Warranty revenue | 6561 | |
| (To record the warranty revenue earned) | ||
| Warranty expense | 5850 | |
| Inventory | 2000 | |
| Salaries and wages payable | 3850 | |
Note: Pls comment it is right ?
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What would be the account name for the very bottom. I've tried
cash and then salaries...
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defective parts and to provide the repair labor at no cost to the
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company sells 580 machines in 2020 (warranty expense is incurred
half in 2020 and half in 2021). As a result of product testing, the
company estimates that the warranty cost is $430 per machine ($190
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Marin Inc. sells portable computer equipment with a two-year
warranty contract that requires the corporation to replace
defective parts and provide the necessary repair labour. During
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of $2,550. Ignore any cost of goods sold. Based on experience, the
two-year warranty costs are estimated to be $166 for parts and $189
for labour per unit. (For simplicity, assume that all sales
occurred on December 31, 2020.) The warranty is...
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