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Crane Company sold 188 color laser copiers on July 10, 2017, for $3,840 apiece, together with a 1-year warranty. Maintenance on each copier during...

Crane Company sold 188 color laser copiers on July 10, 2017, for $3,840 apiece, together with a 1-year warranty. Maintenance on each copier during the warranty period is estimated to be $353.


Prepare entries to record the sale of the copiers, the related warranty costs, and any accrual on December 31, 2017. Actual warranty costs (inventory) incurred in 2017 were $15,420. 

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Journal Entry to record sale of copier: Cash Debit $721920 Sales Credit $721920 Journal... View the full answer

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