Help Save & Exit Submit 7 5. Prepare journal entries to record ALL transactions and year-end adjustments (ignore sales taxes). (Round intermediate calculations and final answer to the nearest whole number.) 15 points Skipped View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 122 Record the sale of scanners to customers. eBook Print References Note: Enter debits before credits. Date General Journal Debit Credit November 15, 2020 > Help Save & Exit Submit 7 5. Prepare journal entries to record ALL transactions and year-end adjustments (ignore sales taxes). (Round intermediate calculations and final answer to the nearest whole number.) 15 points Skipped View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 122 Record the sale of scanners to customers. eBook Print References Note: Enter debits before credits. Date General Journal Debit Credit November 15, 2020 > Help Save & Exit Submit 7 5. Prepare journal entries to record ALL transactions and year-end adjustments (ignore sales taxes). (Round intermediate calculations and final answer to the nearest whole number.) 15 points Skipped View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 122 Record the sale of scanners to customers. eBook Print References Note: Enter debits before credits. Date General Journal Debit Credit November 15, 2020 > Help Save & Exit Submit 7 5. Prepare journal entries to record ALL transactions and year-end adjustments (ignore sales taxes). (Round intermediate calculations and final answer to the nearest whole number.) 15 points Skipped View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 122 Record the sale of scanners to customers. eBook Print References Note: Enter debits before credits. Date General Journal Debit Credit November 15, 2020 > Help Save & Exit Submit 7 5. Prepare journal entries to record ALL transactions and year-end adjustments (ignore sales taxes). (Round intermediate calculations and final answer to the nearest whole number.) 15 points Skipped View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 122 Record the sale of scanners to customers. eBook Print References Note: Enter debits before credits. Date General Journal Debit Credit November 15, 2020 > Problem 10-4A Estimated product warranty liabilities LO4 On November 10, 2020, Singh Electronics began to buy and resell scanners for $54 each. Singh uses the perpetual system to account for inventories. The scanners are covered under a warranty that requires the company to replace any non-working scanner within 90 days. When a scanner is returned, the company simply throws it away and mails a new one from inventory to the customer. The company's cost for a new scanner is only $34. Singh estimates warranty costs based on 15% of the number of units sold. The following transactions occurred in 2020 and 2021 (ignore GST and PST): Nov. Dec. Jan. Required: 2020 15 Sold 4,000 scanners for $216,000 cash. se Recognized warranty expense for November with an adjusting entry. 8 Replaced 150 scanners that were returned under the warranty. 15 Sold 7,600 scanners. 29 Replaced 40 scanners that were returned under the warranty. 31 Recognized warranty expense for December with an adjusting entry. 2021 14 Sold 380 scanners. 20 Replaced 52 scanners that were returned under the warranty. 31 Recognized warranty expense for January with an adjusting entry. 1. How much warranty expense should be reported for November and December 2020? November Warranty Expense < Prev 7 of 7 Next Next 44 ENG ^ LIS