Sales revenue for Booker Company for 2023 amounted to $800,000. The products sold carry a six-month warranty. Management estimates the cost of the warranty to be 3% of sales revenue.   Booker should record journal entries:   DR. (Enter two words only)   CR. (Enter two words only)

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...
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Sales revenue for Booker Company for 2023 amounted to $800,000. The products sold carry a six-month warranty. Management estimates the cost of the warranty to be 3% of sales revenue.

 

Booker should record journal entries:

 

DR. (Enter two words only)

 

CR. (Enter two words only)

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