Foster Company warrants its products for one year. A customer received warranty repairs requiring $325 of parts and $120 of labor. The journal entry would be:

A.Dr Warranty Expense $30,000.00

Cr Warranty Payable $30,000.00

B.Dr Warranty Payable Dr$445.00

Cr To Parts inventory $325.00

Cr To Wages payable $120.00

Explanation:

Preparation of Journal entries

A.Preparation of the Journal entry to record the accrued product warranty

Dr Warranty Expense $30,000.00

($1,500,000*2%)

Cr Warranty Payable $30,000.00

(Being to record warranty provision)

B.Preparation of the Journal entry to record the warranty work provided in February.

Dr Warranty Payable$445.00

($325.00+$120.00)

Cr To Parts inventory $325.00

Cr To Wages payable $120.00

(Being to record repair under warranty by customer)

the page presents four different kinds of threats that volcanoes pose and what to do before, during, and after an eruption.

answer; (a) calling people who have not shown interest in the product and asking them to buy it;