PLEASE DO NOT ANSWER IF YOU ARE NOT SURE

Additional Problem 3 (Part Level Submission) Vaughn Machinery Corporation sold manufacturing equipment for $2,660 each. Each machine carried with it a 2-year warranty against manufacturing defects From experience, Vaughn Machinery Corporation determined that each machine sold would average $400 in replacement parts. In 2017, the company sold 1,020 machines. Also in 2017, the company incurred $198,600 in total repair costs (the cost of replacement parts from inventory). Vaughn Machinery Corporation also sold an extended warranty for its machines. For $590, customers could purchase an extended warranty that extended the warranty on the machine for an additional 2 years. 810 of the customers that bought machines also purchased the extended warranty. ? (a) Using the Revenue Approach, prepare the journal entry to record the sale of the machines and extended warranties. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 4 used