Golden Sound Sells Premium Car Stereo Systems and Assorted Equipment

question 72

Essay

Golden Sound sells premium car stereo systems and assorted equipment for home sound systems as well.Sales and expected warranty claims for Year 1 are as follows:
$\begin{array}{lccr}\text { Product } & \text { Unit } & \text { Expected Warranty Claims } & \text { Cost per } \\\text { Group } & \text { Sales } & \text { for Warranty Period } & \text { Claim }\\\hline\text { Receivers } & 14,700 & 1 \text { claim per } 100 \text { sold } & \$ 150 \\\text { CD Changers } & 19,500 & 3 \text { claims per } 100 \text { sold } & 125 \\\text { Speakers } & 7,500 & 2 \text { claims per } 100 \text { sold } & 100\end{array}$
Prepare the journal entry to record warranty expense for Year 1.

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Definitions:

Dietary Supplements

Substances ingested through the mouth that include nutrients like vitamins, minerals, herbs, or amino acids, aimed at augmenting one's dietary intake.

Placentas

Organs in the uterus of pregnant mammals that nourish and maintain the fetus through the umbilical cord.

Dissociation

A psychological experience of disconnection from one’s thoughts, feelings, memories, or sense of identity.

Conscious Awareness

The condition of being conscious of one's own being, feelings, ideas, and environment.