Question: wirking note please Vector Enterprises makes and sells pots and provides a warranty on their product for its entire life. Experience estimates that 2% of

wirking note please

Vector Enterprises makes and sells pots and provides a warranty on their product for its entire life. Experience estimates that 2% of pots sold will be returned for replacement. The cost of a pot is $24. During 2020, total sales was $595,786 or 13,587 pots sold at $43.85 each. On February 21, 2021, 28 pots were replaced under warranty. The company has a December 31 year-end. REQUIRED: 1 Prepare the journal entry to record the estimated warranty for December 31, 2020. 2 Prepare the journal entry to record the replacement of the pots on February 21, 2021

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