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Current Attempt in Progress Sheridan Company sells automatic can openers under a 75-day warranty...

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Accounting

Current Attempt in Progress
Sheridan Company sells automatic can openers under a 75-day warranty for defective merchandise. Based on past experience,
Sheridan estimates that 4% of the units sold will become defective during the warranty period. Management estimates that the
average cost of replacing or repairing a defective unit is $15. The units sold and units defective that occurred during the last 2 months
of 2027 are as follows.
(a)
Prepare the journal entry to record the costs incurred in honoring 1,026 warranty claims. (Assume actual costs of $15,390.)
(Credit account titles are automatically indented when amount is entered. Do not indent manually.) In January, gross earnings in Coronado Company were $108,000. All earnings are subject to 7.65% FICA taxes. Federal income tax
withheld was $16,000, and state income tax withheld was $2,000.
(a)
Calculate net pay for January.
Net pay for January $
eTextbook and Media
List of Accounts
Attempts: 0 of 3 used
(b)
can you show work pls. Thanks!
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