14.5. We sell small appliances for $100 each, and we expect 2% of the units sold will need repairs in the first year after the sale. Suppose also that we expect 5% of the units sold will need repair in year 2. Our generous product warranty is "free parts" (customer pays labor charges) for the first 2 years. We expect the average cost in parts to be $5 per unit. In 19A, our first year of operations, we sell 5000 units, and by the end of the year 200 have been returned for repair. Assume that these returned units do indeed require on average $5 in parts each. We also charge $10/hr. in labor and about 1 hour of labor is required for each unit. Provide appropriate entries, assuming the usual "accrual" method is used. [ck: ending balance, Warranty Liability: 750.)