(Answered) Kingbird factor provides a 2 year warranty with one of its

Accounting

Kingbird factor provides a 2 year warranty with one of its products which was first sold in 2017. Kingbird sold $1,044,600 of products subject to the warranty. Kingbird expects $135,320 of warranty costs over the ext 2 years. In that year, Kingbird spent $ 74,380 servicing warranty claims. Prepare kingsbirds journal entry to record sales (ignore cost of goods sold) and the December) 31 adjusting entry, assuming the expenditures are inventory costs.

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