Barton Corporation extends a bomo want on all Lamps sold Using past experience, the company states that 3% of tamps sold will be returned and replaced at an average cost of $20 por lamp on January 1, 2014, the balance in Burton Corporation's Estimated Warranty Libily account was $5,500 During 2014 sales totalled 5585,000 or 19.500 fmps The actual number of lamps toured and replaced was 570 Prepare the following journal entries Estimated warranty abilities for uns sold during 2014. Use this chato December 31 Replacement of the units returned in 2014 (use the date December 31) Enter an appropriate description, and enter the dates in the format dimin e 15/Jan) Oor Journal Page 1 NORE Debit Crede (2) Calculate the balance in the Estimated Warranty Liability account at December 31, 2014, and the Warranty Expense that will appear on the income statement for the yoar-onded December 31, 2014 Balance of Estimated Way Liability at Dec 319 Warranty Expenses it appears on the income Statement