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Velow Hitzu Company sold a copier (that costs $5,500) for $11,000 cash with a two-year parts warranty to a customer on August 16 of Year 1. Hitzu expects warranty costs to be 5% of dollar sales. It records warranty expense with an adjusting entry on December 31. On January 5 of Year 2, the copier requires on-site repairs that are completed the same day. The repairs cost $139 for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copied Exercise 9-12 (Algo) Warranty expense and liability computations and entries LO P4 1. How much warranty expense does the company report for this copler in Year 1? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 12 3. How much is the estimated warranty liability for this copler as of December 31 of Year 22 4. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1; and (c) the repairs that occur on January 5 of Year 2. Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 Dronare inimal antrieet rondlal the monarle alalh the themant tn ranna thawahi onanea a arambar was 56 ints eBook Hint Print Terences View transaction list Journal entry worksheet

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