Business, 17.06.2021 21:30 nicoleaaliyah

On September 1, Home Store sells a mower (that costs $120) for $420 cash with a one-year warranty that covers parts. Warranty expense is estimated at 6% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $29 in materials taken from the Repair Parts Inventory. Required:
Prepare the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs.

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On September 1, Home Store sells a mower (that costs $120) for $420 cash with a one-year warranty th...

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