5-a. Compute the extended warranty revenue recognized during 2017 and 2018. (Enter your answers in millions of dollars.)Extended Warranty revenueView transaction list5-b. Prepare the journal entry to record the revenue recognized in 2018. (If no entry is required for a transaction/event, select "Nojournal entry required" in the first account field. Enter your answers in millions of dollars.)No120182017TransactionAView journal entry worksheetGeneral JournalExtended warranty deferred revenueExtended warranty revenueDebitCreditⒸ Selected information related to warranties provided by IBM follows (in millions of U.S. dollars):Net revenuesStandard warranty liability, end of yearCharges incurred during the yearExtended warranty deferred revenue, end of yearRevenue deferred for new extended warranty contracts201820172016$81,591 $81,139 $81,919158163573260192205606307196204571303

Selected information related to warranties provided by IBM follows (in millions of U.S. dollars): Net revenues Standard warranty liability, end of year Charges incurred during the year Extended warranty deferred revenue, end of year Revenue deferred for new extended warranty contracts 2018 2017 2016 $81,591 $81,139 $81,919 158 163 573 260 192 205 606 307 196 204 571 303

Selected information related to warranties provided by IBM follows (in millions of U.S. dollars): Net revenues Standard warranty liability, end of year Charges incurred during the year Extended warranty deferred revenue, end of year Revenue deferred for new extended warranty contracts 2018 2017 2016 $81,591 $81,139 $81,919 158 163 573 260 192 205 606 307 196 204 571 303

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 14EA: Arvan Patel is a customer of Banks Hardware Store. For Mr. Patels latest purchase on January 1,...

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