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Business, 15.02.2021 19:50 zafyafimli

On September 1, Home Store sells a mower (that costs $230) for $530 cash with a one-year warranty that covers parts. Warranty expense is estimated at 7% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $37 in materials taken from the Repair Parts Inventory. Prepare the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs. (Round your answers to 2 decimal places.)

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On September 1, Home Store sells a mower (that costs $230) for $530 cash with a one-year warranty th...
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