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Prepare the journal entry to record this transaction

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Problem - Bob Company manufactures and sells popcorn poppers which include a 1 year warranty on product defects. It also sells an extended warranty which provides an additional two years of protection. On March 11, it sold a popcorn popper for $500 and an extended warranty for another $50. Prepare the journal entry to record this transaction.

Reference no: EM132886494

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