Business, 28.08.2020 14:01 GreenHerbz206

McNight Industries completed the following transactions during 2018: Journalize the transactions. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.)
Nov. 1: Made sales of $52,000. McNight estimates that warranty expense is 6% of sales. (Record only the warranty expense.)
McNight estimates that warranty expense is 6% of sales. (Record only the warranty expense.)
20 Paid $1,600 to satisfy warranty claims.
31 Estimated vacation benefits expense to be $6,000.
31 McNight expected to pay its employees a 3% bonus on net income after deducting the bonus.
Net income for the year is $52,000. Dec.

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McNight Industries completed the following transactions during 2018: Journalize the transactions. E...

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