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Record the repairs performed under the extended warranties

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Reference no: EM132983234

Sawyer Appliances sells heaters with embedded 1-yr warranty as well as an optional 2 year extended warranty. In 2017, Sawyer sold 50 heaters with extended warranty which cost $10 for each heater. In 2019, Sawyer spent $75 fixing heaters under the extended warranty. Sawyer recognized the revenue on the extended warranties using the straight line method.

Problem 1: Record the sales of extended warranties on 2017

Problem 2: Record the repairs performed under the extended warranties in 2019.

Problem 3: Record the revenue to be recognized on the extended warranties in 2019.

Reference no: EM132983234

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