Hitzu Company sold a copier ( that costs $ 5 , 5 0 0 ) for $
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Question:
Hitzu Company sold a copier that costs $ for $ cash with a twoyear parts warranty to a customer on August of Year
Hitzu expects warranty costs to be of dollar sales. It records warranty expense with an adjusting entry on December On January of Year the copier requires onsite repairs that are completed the same day. The repairs cost $ for materials taken from the parts inventory. These are the only repairs required in Year for this copier.
Analyze each of the following transactions:
a the copiers sale;
b the adjustment to recognize the warranty expense on December of Year ; and c the repairs that occur on January of Year
Show each transactions effect on the accounting equationspecifically identify the accounts and amounts including or for each.
Note: Enter all amounts as positive value.
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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