Estes Industries completed the following transactions during 2025: Journalize the transactions. Explanations are not required. Round to
Question:
Estes Industries completed the following transactions during 2025:
Journalize the transactions. Explanations are not required. Round to the nearest dollar.
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Nov. 1 20 Dec. 31 31 Made sales of $8,000. Estes Industries estimates that warranty expense is 4% of sales. (Record only the warranty expense.) Paid $100 to satisfy warranty claims. Estimated vacation benefits expense to be $1,200. Estes Industries expected to pay its employees a 2% bonus on net income after deducting the bonus. Net income for the year before the bonus calculation is $20,000.
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Date January 2 2025 Account Accounts Receivable Debit 5000 Account Sales Revenue Credit 5000 Date Ja...View the full answer
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780137858651
8th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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