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10. (5 points) Bonneau Enterprises warrants its products for one year. The estimated product warranty...

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Accounting

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10. (5 points) Bonneau Enterprises warrants its products for one year. The estimated product warranty is 5.2% of sales. Sales were $520,000 for September. In October, a customer received warranty repairs requiring $215 of parts and $65 of labor. (a) Journalize the adjusting entry required at September 30 , the end of the first month of the current year, to record the estimated product warranty expense. (b) Journalize the entry to record the warranty work provided in October

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