Accrued Product Warranty Parker Manufacturing Co. warrants its products for one year. The estimated product warranty is 4% of sales. Assume that sales were $328,000 for January. In February, a customer received warranty repairs requiring $120 of parts and $105 of labor. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Journalize the adjusting entry required at January 31 , the end of the first month of the current fiscal year, to record the accrued product warranty. b. Journalize the entry to record the warranty work provided in February