Question: how do i find the correct responses? @ Requlred Information {The following infomaon appes to the questions displayed below} On October29. Lobo Co. began operations
how do i find the correct responses?





@ Requlred Information {The following infomaon appes to the questions displayed below} On October29. Lobo Co. began operations by purchasing razors for resale. The razors have a 90-day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer: The company's cost per new razor is $14 and its retail selling price is $80. The company expects warranty costs to equal 796 of dollar sales. The following transactions occurred. Nov. 11 Sold 60 razors for $4,800 cash. 30 Recognized warranty expense related to November sales with an adjusting entry. Dec. 9 Replaced 12 razors that were returned under the warranty. 16 Sold 180 razors for $14,406 cash. 29 Replaced 24 razors that were returned under the warranty. 31 Recognized warranty expense related to December sales with an adjusting entry. Jan. 5 Sold 120 razors for $9,600 cash. 17 Replaced 29 razors that were returned under the warranty. 31 Recognized warranty expense related to January sales with an adjusting entry. \\ I 1. Preparejournal entries to record above transactions and adjustments. Viewiournal entry worksheet I 9 Jan 05 9,600 9.500 2. How much warranty expense is reported for November and December? Warranty expense for November Warranty expense for December\f4. What is the balance of the Estimated Warranty Liability account as of December 31? Estimated warranty liability balance5. What is the balance of the Estimated Warranty Liability account as of January...I 31
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