Problem $5$

Millworks Co$.$ owns a milling machine that cost $$125,000$ and has accumulated depreciation of $$91,000.$ Record a journal entry to dispose of the machine on Jan. $5$ under each of the following situations.

$1$ Sold the machine for $$18,600$ cash

$2$ Sold the machine for $$22,500$ cash

$3$ Sold the machine for $$35,000$ cash

$4$ Scrapped the machine

$\backslash$table$[[$Date$,$Account,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,],[2,,,],[,,,],[,,,],[,,,],[3,,,],[,,,],[,,,],[,,,],[,,,],[4,,,],[,,,],[,,,]]$

Problem $6$

On July $1,$ Gable Co$.$ sells a product that includes a two$-$year warranty on parts. In July $5,000$ units are sold. Accountants estimate that $2\%$ of the units will be defective and that the average warranty costs will be $$20$ per unit. Prepare following entries: $($a$)$ To accrue the estimated warranty cost and $($b$)$ an entry on Sept. $30$ to record $25$ defective units.

Show your calculations!!!

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$\backslash$table$[[$Date$,$Account,Debit,Credit$],[$Nov$.2,,,],[,,,],[,,,],[,,,],[$Nov$.30,,,],[,,,],[,,,]]$

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