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Estimated Warranty Liability 2022 sold 200 computers at $1,000 each ( $700 cost)....

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Accounting

Estimated Warranty Liability
2022 sold 200 computers at $1,000 each ( $700 cost). Experience says about 10% will be returned
for warranty work. Average cost of warranty work is $200( $100 on parts and $100 on labor)
2023 actually spent a total of $1550 on warranty work ( $850 of it was labor costs)
Prepare all journal entries (sale, warranty expense, and warranty work)
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