Part b (b) Prepare 2025 entries for Bonita assuming that the warranties are not an integral part of the sale (a service - type warranty). Assume that of the sales total, $ 55,000 relates to sales of warranty contracts. Warranty costs incurred in 2025 were $21,000. Estimate revenues to be recognized on a straight-line basis. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

Part b (b) Prepare 2025 entries for Bonita assuming that the warranties are not an integral part of the sale (a service - type warranty). Assume that of the sales total, $ 55,000 relates to sales of warranty contracts. Warranty costs incurred in 2025 were $21,000. Estimate revenues to be recognized on a straight-line basis. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 28E: On January 1, 2019, Northfield Corporation becomes delinquent on a 100,000, 14% note to First...

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