Answer:
The journal entry to record the sale of the laser copiers
July 10, 2017, 196 laser copiers sold
Dr Cash 719,320
Cr Sales revenue 719,320
The journal entry to record the warranty expense
July 10, 2017, warranty expense for 196 laser copiers sold
Dr Warranty expense 62,524
Cr Warranty liability 62,524
The journal entry to record warranty costs
December 31, 2017, warranty costs for 196 laser copiers sold
Dr Warranty liability 17,370
Cr Inventory 17,370
The company cannot record any revenue resulting from the warranty liability because the warranty is still valid.
