Prepare the journal entry to record this transaction on January 2, 2025, and on December 31, 2025 (assuming financial statements are prepared on December 31, 2025). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record Journal entries in the order presented in the problem) Show Transcribed Text Date (b) Account Titles and Explanation Show Transcribed Text 2 2 C Debit 00000 Credit Repeat the requirements for (a), assuming that in addition to the assurance warranty, Ivanhoe sold Kingbird an extended warranty (service-type warranty) for an additional 2 years (2027-2028) for $820. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
Prepare the journal entry to record this transaction on January 2, 2025, and on December 31, 2025 (assuming financial statements are prepared on December 31, 2025). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record Journal entries in the order presented in the problem) Show Transcribed Text Date (b) Account Titles and Explanation Show Transcribed Text 2 2 C Debit 00000 Credit Repeat the requirements for (a), assuming that in addition to the assurance warranty, Ivanhoe sold Kingbird an extended warranty (service-type warranty) for an additional 2 years (2027-2028) for $820. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
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
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 10E
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