Bramble Corporation sold 143 color laser copiers on July 10, 2017, for $3,690 apiece, together with a 1-year warranty. Maintenance on each copier during the warranty period is estimated to be $330. 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 $15,420. (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.)

 

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Account Titles and Explanation Debit Credit Cash 721920 Warranty Expense 50944 Sales Revenue 721920 Warranty Liability 50944 (To record sale of the copiers) Warranty Liability 15420 Inventory 15420 (To record warranty costs) Account Titles and Explanation Debit Credit Cash 721920 Warranty Expense 50944 Sales Revenue 721920 Warranty Liability 50944 (To record sale of the copiers) Warranty Liability 15420 Inventory 15420 (To record warranty costs)

Answer rating: 100% (QA)

Bramble Corporation Journal Entries December 31 2017 Date Accounts Titles and Explanation Debit Cred... View the full answer