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question 2 earty in 2017 grouper equipment company sold 500...

Question: question 2 earty in 2017 grouper equipment company sold 500...

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Question 2 Earty in 2017, Grouper Equipment Company sold 500 Rollomatics during 2017 at $6,100 each.During 2017, Grouper spent $22,000 serviding the 2-year assurance warranties that accompany the Rollomatic. All applicable transactions are on a cash basis. Prepare 2017 entries for Grouper. Assume that Grouper estimates the total cost of servicing the warranties will be $52,000 for 2 years. (rno entry is required select า。Entry- for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not Date Account Titles and Explanation Debit Credit Prepare 2017 entries for Grouper assuming that the warranties are not an integral part of the sale (a service-type warranty). Assume that of the sales total, $53,000 relates to sales of warranty contracts. Grouper estimates the total cost of servicing the warranties will be $52,000 for 2 years. Estimate revenues to be recognized on a straight-line basis. (f no entry is required, select No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amolint is entered, Do not indent manually. Round intermediate calculations to 5 declmal places, e.g. 1.54657 answers to o decimal places e.g. 5,125) Date Account Titles and Explanation Debit Credit

Date Account Titles and Explanation Debit Credit Prepare 2017 entries for Grouper assuming that the warranties are not an integral part warranty contracts. Grouper estimates the total cost of servicing the warranties will be $52,000 for 2 years. Estimate revenues to be recognized on a straight -äne basis. (II no required, select No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indent manually. Round intermediate calculations to 5 decimmal places, e.g.1.54657 answers to o decimal places, e.g. 5,125.) of the sale (a service-type warranty), Assume that of the sales total, $53,000 relates to sales of indented when amount is entered. Do not Date Account Titles and Explanation Debit Credit (To record warranty revenue)

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