Question: Any help will ve appreciated $3,000 each on Rollomatic Gonzalez Equipme Company sold 3000 Rollomatics during 2020 at During 2020, Gonzalez spent $200,000 servicing the

Any help will ve appreciated

$3,000 each on Rollomatic Gonzalez Equipme Company sold 3000 Rollomatics during 2020 at During 2020, Gonzalez spent $200,000 servicing the 2-year warranties All applicable transactions are on a cash basis. Instructions 5 (a) 6 Prepare 2020 entries for Gonzalez using the expense warranty approach 7 Assume that Gonzalez estimates the total cost of servicing the warranties will be 8 for 2 years $350,000 22 (b) 23 Prepare 2020 entries for Gonzalez assuming that the warranties are not an integral part of the sale. 24 Assume that of the sales total, $400,000 relates to sales of warranty contracts 25 Gonzalez estimates the total cost of servicing the warranties will be $320,000 for 2 years 26 Estimate revenues earned on the basis of costs incurred and estimated costs

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