company B remitted HST owing to the government date description DR CR warranty 1. Company...
60.1K
Verified Solution
Link Copied!
Question
Accounting
company B remitted HST owing to the government date description DR CR warranty 1. Company A sold 10000 items at a cost of $10 each. On average 3% are returned under warranty. a) Prepare the journal entry to record the estimated warranty expense for the year. (b)Prepare the journal entry to record the repairs made to 150 machines at the average cost of, S5 for parts per unit and $10 in labour sold 10000 x $10 = 3 % = D returned under warranty 10000 X cost to repair items under warranty Parts Labour total per unit units returned estimtated warranty units cost of warranty Prepare the journal entry to record the estimated warranty expense for the year. description DR date date (b)Prepare the journal entry to record the repairs made to 150 machines at the average cost of $5 for parts per unit and so mnou description DR
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
