Pharoah Company sold 202 color laser copiers on July 10, 2017, for $3,710 apiece, together with a

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Pharoah Company sold 202 color laser copiers on July 10, 2017, for $3,710 apiece, together with a 1-year warranty.

Maintenance on each copier during the warranty period is estimated to be $355.

Prepare entries to record the sale of the copiers, the related warranty costs, and any accrual on December 31, 2017.

Actual warranty costs (inventory) incurred in 2017 were $18,550. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.

Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jul. 10, 2017During 2017Dec. 31, 2017 Jul. 10, 2017During 2017Dec. 31, 2017 Jul. 10, 2017During 2017Dec. 31, 2017

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Intermediate Accounting

ISBN: 978-1119503668

17th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel

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