A Company Sells Tablet Computers for $1,300 Each

question 95

Essay

A company sells tablet computers for $1,300 each.The price includes a two-year warranty.During the current year,the company sells 400 tablets.On the basis of past experience,the warranty costs are estimated to be $280 per tablet.The actual warranty costs (paid in cash)by the company during the current year were $65,000.Prepare general journal entries to record the (a)estimated warranty expense and (b)warranty repair costs during current year.

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Definitions:

Acidic H Atoms

Hydrogen atoms in a molecule that can be donated as protons during an acid-base reaction.

AntiAromatic

Describes molecules that do not follow Hückel's rule, often destabilized and non-planar, lacking aromatic stabilization.

NonAromatic

A classification for organic compounds that do not meet the criteria for aromaticity, lacking a conjugated system of pi electrons.

π Network

A system of delocalized π-electrons in a molecule that contributes to its stability, often found in aromatic compounds.