Connors company paid $700 cash to make a repair on equipment it sold under a one-year warranty in the prior year. The entry to record the payment will debit.

Since the amount of $700 was the cash amount that was paid by the company for a repair on equipment it sold. The appropriate journal entry to record the payment will be:

Connors company entry

Debit Accrued Warranty Payable $700

Credit Cash $700

(To record accrued warranty payable)

Therefore the journal entry to record the payment will be: Debit Accrued Warranty Payable and Credit Cash.

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Connors company paid​ $700 cash to make a repair on equipment it sold under a​ one-year warranty in the prior year. The entry to record the payment will debit.

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Journal entry

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Connors company paid $700 cash to make a repair on equipment it sold under a one-year warranty in the prior year. The entry to record the payment will debit.