On september 1, home store sells a mower (that costs $250) for $550 cash with a one-year warranty that covers parts. warranty expense is estimated at 7% of sales. on january 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $39 in materials taken from the repair parts inventory. prepare the september 1 entry to record the mower sale (and cost of sale) and the january 24 entry to record the warranty repairs. (round your answers to 2 decimal places.)

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product

Advanced enterprises reports year-end information from 2018 as follows: sales (160,250 units) $968,000 cost of goods sold 641,000 gross margin 327,000 operating expenses 263,000 operating income $64,000 advanced is developing the 2019 budget. in 2019 the company would like to increase selling prices by 14.5%, and as a result expects a decrease in sales volume of 9%. all other operating expenses are expected to remain constant. assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. should advanced increase the selling price in 2019?

Match the different financial task to their corresponding financial life cycle phases