15. Nokia provides a warranty with all its products it sells. It estimates that it will sell 600,000 units of its product for the year ended December 31, 2020, and that its total revenue for the product will be 50,000,000. It also estimates that 60% of the product will have no defects, 25% will have major defects, and 15% will have minor defects. The cost of a minor defect is estimated to be $2.5 for each product repaired, and the cost for a major defect cost is $7.5. The company also estimates that the minimum amount of warranty expense will be $1,250,000 and the maximum will be $6,000,000. Prepare the journal entry to record provisions, if any, for Nokia at December 31, 2020. On I (4 Points) O Debit Warranty Expense 1.350,000. Credit Warranty Liability 1,350,000 None of these answer choices are correct Debit Warranty Expense 225,000, Credit Warranty Liability 225,000 Debit Warranty Expense 1.125,000. Credit Warranty Liability 1,125,000