Question: On the December 1 2017, android inc made a loan to one of its customers. The customer signed a 4 months note for $110,000 at
On the December 1 2017, android inc made a loan to one of its customers. The customer signed a 4 months note for $110,000 at 12%. Journalize the loan, the adjusting entry at 12/31/17, and the repayment of the February 1, 2018 Felx sales offers warranties on all their electronic goods. Warranty expense is estimated at 3.5% of sales revenue, in 2015 felx had $3, 533,000 of sales. in the same year, Felix paid out $18, 750 of warranty payments. Provide general entry records the warranty expense. provide the general entry to record the disbursement of warranty payments
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