Answer Part b) below: Answer Part b) below: Answer Part c) below: Read through the following information and use it to answer the questions below ABC Company gives a lifetime warranty on all products. It estimates 0.5% of units sold will require replacement at a cost of $103 per unit. During 2020 , sales totalled $3,710,000, or 17,200. The actual units returned was 87. Part 1 - Record the estimated warranty liability transaction for units sold in 2020 below: Part 2 - Record the replacement of the units returned in 2020 in the table below: Jane Company is preparing adjusting entries. Make entries for each of the following. a) During December, Jane sold 7,100 units with warranty. Sales totaled $396,000. Jane expects 8% of units sold will need repair under warranty at a cost of $44. b) Jane is being sued for negligence. Lawyers believe it is probable damages will be paid, but cannot estimate the amount. c) $101,000 of $166,000 received in advance has now been earned. Answer Part a) below: Est. Warranty Liability Answer Part b) below