The Carrot Company sold extended warranties for its vacuum cleaners which it sold. The company received $20,000 for the extended warranties for four years. The monies were received on June 30th, 2022. The company uses the calendar year end for its business year.

 

What was the journal entry made on June 30th, 2022?

 What is the journal entry that the company will prepare on December 31st, 2022?

 What is the journal entry that the company will prepare on December 31st, 2022?

Answer rating: 100% (QA)

Journal Entries for Extended Warranty Sales June 30th 2022 This is the date the extended warranties ... View the full answer