Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 26

Liability transactions
The following items were selected from among the transactions completed by Sherwood Co. during the current year:

Instructions
1. Journalize the transactions.
2. Journalize the adjusting entry for each of the following accrued expenses at the end of the current year:
A. Product warranty cost, $80,000.
B. Interest on the nine remaining notes owed to Greenwood Co.