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LIST OF ACCOUNTS ARE AS FOLLOWS:

Accounts Payable Accounts Receivable Accretion Expense Accumulated Depletion - Mineral Resources Asset Retirement Obligation Bonus Expense Bonus Payable Cash Cost of Goods Sold CPP Contributions Payable Depreciation Expense EI Premiums Payable Employee Benefit Expense Employee Income Tax Deductions Payable Estimated Inventory Returns Estimated Liability for Premiums Freight-in Freight-out Furniture and Fixtures Gain on Settlement of ARO GST Payable GST Receivable Health Insurance Premiums Payable HST Payable HST Receivable Income Tax Expense Income Tax Payable Income Tax Receivable Interest Expense Interest Income Interest Payable Interest Receivable Inventory Inventory of Premiums Land Improvements Litigation Expense Litigation Liability Loss on Redemption of Bonds Loss on Restructuring of Debt Loss on Settlement of ARO Machinery Mineral Resources No Entry Notes Payable Notes Receivable Parental Leave Benefits Payable Payroll Tax Expense Payroll Taxes Payable Premium Expense Premium Liability PST Payable PST Receivable Purchase Discounts Purchase Discounts Lost Purchase Returns and Allowances Purchases Refund Liability Rent Expense Rent Payable Rent Revenue Retained Earnings Returnable Deposits Salaries and Wages Expense Salaries and Wages Payable Sales Returns and Allowances Sales Revenue Service Revenue Sick Pay Wages Payable Trucks Unearned Revenue Unearned Sales Revenue Unearned Subscriptions Revenue Unearned Warranty Revenue Union Dues Payable Vacation Wages Payable Warranty Expense Warranty Liability Warranty Revenue

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