Help with accounting!?

• extended warranty car
• extended warranty on used cars
• emails received

Carnes Electronics sells consumer electronics that carry a 90-day manufacturer’s warranty. At the time of purchase, customers are offered the opportunity to also buy a two-year extended warranty for an additional charge. During the year, Carnes received $412,000 for these extended warranties (approximately evenly throughout the year).


Prepare journal entries that summarize sales of the extended warranties (assume all credit sales) and any aspects of the warranty that should be recorded during the year. (Round your answers to 2 decimal places.)


What is the December 31 adjusting entry?




Thanks!!

Help with accounting!?