BE$13\mathrm{.}14-$ Using Excel to Record Warranty Transactions

PROBLEM

Leppard Corporation sells DVD players. The corporation also offers its

customers a warranty contract. The following information pertains to warranty

activity during $2020$

Assume the service costs are inventory costs.

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Use cell

references to the Problem area, with mathematical formulas to calculate any

amounts not given.

Prepare Leppard's journal entries for the following:

$($a$)$ The sale of contracts

$($b$)$ The cost of servicing the warranties contracts

$($c$)$ The recognition of warranty revenue

$($a$)$

$($b$)$

$($c$)$