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9-10 Check my work mode : This shows what is correct...

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Accounting

9-10
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Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate co Exercise 9-10 Warranty expense and liability computations and entries LO P4 Hitzu Co. sold a copler (that costs $3,500) for $7.000 cash with a two-year parts warranty to a customer on August 16 of Year 1. Hitzu expects Warranty costs to be 4% of dollar sales. It records warranty expense with an adjusting entry on December 31. On January 5 of Year 2, the copier requires on-site repairs that are completed the same day. The repairs cost $147 for materials taken from the repair parts inventory. These are the only repairs required in Year 2 for this copler. 1. How much warranty expense does the company report for this copier in Year 1? Answer is complete but not entirely correct. 210 Warranty expense s 2. How much is the estimated warrantyllability for this copler as of December 31 of Year 12 Answer is complete but not entirely correct. Estimated warranty ability $ 210 3. How much is the estimated warranty liability for this copler as of December 31 of Year 2? Answer is complete but not entirely correct. Estimated warranty ability $

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