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Business, 18.01.2021 14:00 Serenitybella

Savory Co. sold $411,000 of equipment during January under a six-month warranty. The cost to repair defects under the warranty is estimated at 7.5% of the sales price. On August 15, a customer required a $391 part replacement, plus $122 of labor under the warranty. Required:
a. Provide the journal entry for the estimated warranty expense on January 31 for January sales Jan. 31
b. Provide the journal entry for the August 15 warranty work.

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Savory Co. sold $411,000 of equipment during January under a six-month warranty. The cost to repair...
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