A company offers a 3 year extended warranty for $56.

Total sales of coffee pots during 2022 $245,000 Amount of total sales that relates to extended warranty contracts $36,000 Estimated total cost of servicing warranties for the 3 years $30,000 Amount spent during 2022 servicing these warranties $8,000 PREPARE THE JOURNAL ENTRIES TO:

Record the sale of the coffee pots

Record the warranty expense for the year

Record the warrnany revenue for the year