Business, 28.01.2020 06:31 YamiletRdz721

E13.11 (lo 3) (warranties) early in 2020, crow equipment sold 500 rollomatics at $6,000 each. during 2020, crow spent $20,000 servicing the 2-year assurance warranties that accompany the rollomatic. all applicable transactions are on a cash basis. instructions a. prepare 2020 entries for crow. assume that crow estimates the total cost of servicing the warranties in the second year will be $35,000. b. prepare 2020 entries for crow assuming that the warranties are not an integral part of the sale (a service-type warranty). assume that of the sales total, $56,000 relates to sales of warranty contracts. warranty costs incurred in 2020 were $20,000. estimate revenues to be recognized on a straight-line basis.

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E13.11 (lo 3) (warranties) early in 2020, crow equipment sold 500 rollomatics at $6,000 each. during...