estimated that warranty claims would amount to 7% of sales. During the year, she replaced defective merchandise for $6,000. All transactions were cash transactions.i. Prepare journal entries to record all transactions related to the warranty.ii. Based solely on the above information, determine Bertha's Games operating income for the year. (Points : 26)
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) In the most recent year of operations, Bertha's Games sold merchandisecosting $104,000 for $194,000. All merchandise was sold under a one-yearwarranty. At the time of sale, Bertha estimated that warranty claims wouldamount to 7% of sales. During the year, she replaced defective merchandise for$6,000. All transactions were cash transactions.i. Prepare journal entries to record all transactions related to the warranty.ii. Based solely on the above information, determine Bertha's Games operatingincome for the year.
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Experience: BS Accounting