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Question : Please help me with the figures for each entry.

Please help me with the figures for each entry.

Sweet Factory provides a 2-year warranty with one of its products which was first sold In 2017. Sweet sold $1,023,100 of products subject to the warranty. Sweet expects $127,720 of warranty costs over the next 2 years. In that year, Sweet scent $68,080 servicing warranty claims. Prepare Sweet's journal entry to record the sales (Ignore cost of goods sold) and the December 31 adjusting entry, assuming the expenditures are Inventory costs.

 

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Accounting 1 Year Ago 168 Views
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