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Computer Wholesalers restores and resells notebook computers. It originally acquires the notebook computers from corporations...

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Computer Wholesalers restores and resells notebook computers. It originally acquires the notebook computers from corporations upgrading their computer systems, and it backs each notebook it sells with a 90-day warranty against defects. Based on previous experience, Computer wholesalers expects warranty costs to be approximately 6% of sales. Sales for the month of December are $540,000. Actual warranty January of the following year were $20,000. in value 13.16 points Required information 2. & 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the contingent liability for warranties Note: Enter debits before credits. Debit Credit General Journal

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