5 points 3. Miley Equipment Company sells computers for $1,500 each and gives each customer a 2-year warranty that requires the company to perform periodic services and to replace defective parts. During 2020, the company sold 900 computers. Based on past experience, the company has estimated the total 2-year warranty costs as $40 for parts and S60 for labor. (Assume sales all occur on December 31, 2020.) In 2021, Miley incurred actual warranty costs relative to 2020 computer sales of $12,000 for parts and $18,000 for labor. Requirements: (a) Under the expense warranty approach, give the entries to reflect the above transactions (accrual method) for 2020 and 2021. (b) Under the cash-basis method, what are the Warranty Expense balances for 2020 and 2021? Your