Mary, accountant of Company C (the Company) is now reviewing the accounting records for the year ended on 31 December 2019. Below are the events that happened during the Year 2019. The beginning balance (1 Jan 2019) in the Supplies account was $400. During the year, the Company purchased additional Supplies costing $1,600. There is $900 of Supplies on hand at the end of the year. The beginning balance (1 Jan 2019) in the Warranty Payable account was $80,000. Sales were $800,000 and warranty costs were estimated at 8 of sales. During the year, $55,000 was paid to settle warranty claims On 12 December 2019, the Company purchased $15,006 of equipment by issuing a 30day, 10 (annual interest rate) note payable 

As a result of the above transactions, Determine the dollar amount of Warranty Expense for the Year 2019 $

Determine the dollar amount of the Ending Balance (31 Dec 2019) of Warranty Payable $ 

Determine the total cash amount paid on the maturity date of the note (using a 366 day year) $ 

Determine the dollar amount of the Ending Balance (31 Dec 2019) of Supplies $

Answer rating: 100% (QA)

a Warranty expense is 64000 Warranty Expense 800000 x 8 64000 b Warranty Pay... View the full answer