Apple sells a laptop (that costs $5,500 ) for $11,000 cash with a two-year parts warranty to a customer on September 20 of Year 1 . Apple expects warranty costs to be 3% of dollar sales. It records warranty expense with an adjusting entry on December 31 . On January 6 of Year 2, the laptop requires on-site repairs that are completed on the same day. The repair costs $141 for materials taker from the Parts Inventory. These are the only repairs required in Year 2 for this laptop. Complete this question by entering your answers in the tabs below. 1. How much warranty expense does the company report for this laptop in Year 1 ? 2. How much is the estimated warranty liability for the laptop as of December 31 of Year 1 ? 3. How much is the estimated warranty liability for the laptop as of December 31 of Year 2 ? Apple sells a laptop (that costs $5,500 ) for $11,000 cash with a two-year parts warranty to a customer on September 20 of Year 1 . Apple expects warranty costs to be 3% of dollar sales. It records warranty expense with an adjusting entry on December 31 . On January 6 of Year 2, the laptop requires on-site repairs that are completed on the same day. The repair costs $141 for materials taken from the Parts Inventory. These are the only repairs required in Year 2 for this laptop. Complete this question by entering your answers in the tabs below. Prepare journal entries to record (a) the laptop's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1 ; and (c) the repairs that occur on January 6 of Year 2. Journal entry worksheet 4 Note: Enter debits before credits