10. Suppose your company provides a product warranty on the products it sells. Your company will produce and sell 10,000 units and estimate 8% as the rate of defective units. The average warranty repair cost is $63 per unit. Please calculate the estimated product warranty liability and make the adjusting journal entry to record the accrual of the estimated warranty costs. In addition, make the adjusting journal entry for the honoring of 300 warranty contracts based on these sales