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Business, 15.02.2021 19:50 ineedhelpwhomework

Cheyenne Company sold 9,800 Super-Spreaders on December 31, 2020, at a total price of $970,200, with a warranty guarantee that the product was free of any defects. The cost of the spreaders sold is $499,800. The assurance warranties extend for a 2-year period and are estimated to cost $43,500. Cheyenne also sold extended warranties (service-type warranties) related to 2,200 spreaders for 2 years beyond the 2-year period for $13,200. Given this information, determine the amounts to report for the following at December 31, 2020: sales revenue, warranty expense, unearned warranty revenue, warranty liability, and cash.

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