Ask Question
25 February, 23:36

Nelson Industries warrants its products for one year. The estimated product warranty is 4.3% of sales. Sales were $475,000 for September. In October, a customer received warranty repairs requiring $215 of parts and $65 of labor. Required: 1. Journalize the adjusting entry required at September 30, the end of the first month of the current year, to record the estimated product warranty expense. 2. Journalize the entry to record the warranty work provided in October. If an amount box does not require an entry, leave it blank.

+5
Answers (1)
  1. 26 February, 02:01
    0
    The required journal is given below

    1 Product Warranty Expense 20425 = 475000*4.3%

    Product Warranty Payable 20425

    2 Product Warranty Payable 280

    Supplies/Inventory 215

    Wages Payable 65
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Nelson Industries warrants its products for one year. The estimated product warranty is 4.3% of sales. Sales were $475,000 for September. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers