In Part a I know that Jan 12 is suppos to be service revenue
In Part a I know that Jan. 12 is suppos to be service revenue instead of sales revenue but I m confused about part b and c! In part b I m pretty sure it’s something to do with warranties but I m not not sure how to calculate it! Please help me with part b transaction no. 2 and what should be the last transaction on part c!!
Chrome File Edit View History Bookmarks People Window Help Problem 11-1A ? https://edugen.wileyplus.com/edugen/shared/assignment/test/qprint.uni *Problem 11-1A On January 1, 2017, the ledger of Accardo Company contains the following liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $52,000 7,700 16,000 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. 12 Performed services for customers who had made advance payments of $10,000. (Credit Service Revenue.) 14 Paid state revenue department for sales taxes collected in December 2016 ($7,700). 20 Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty. 21 Borrowed $27,000 from Girard Bank on a 3-month, 896, $27,000 note. 25 Sold merchandise for cash totaling $12,420, which includes 8% sales taxes. Your answer is partially correct. Try again. oblem Date Account Titles and Explanation urnalize the January transactions. (Credit account titles are automatically indented when amount istentered. Do not indentr Debit Credit 20520 an Solution
Yes, In Part a it is suppose to be service revenue instead of sales revenue.
In part b
In part C,
It is suppose to be Interest payable (60) instead of Interest expense
and the last transaction on part C is Estimated Warranty Liability = 3150
| Date | Account Titles | Debit | Credit |
| Jan 31 | Warranty Expense | 3150 | |
| Estimated Warranty Liability | 3150 | ||
| (45000 * 0.07) |
