Blossom Equipment Company sells computers for $1,280 each and also gives each customer a 2-year warranty that requires the company to perform periodic services and to replace defective parts. During 2020, the company sold 900 computers. Based on past experience, the company has estimated the total 2-year warranty costs as $40 for parts and $60 for labor. (Assume sales all occur at December 31, 2020.) In 2021, Blossom incurred actual warranty costs relative to 2020 computer sales of $10,800 for parts and $16,200 for labor. Part 1 Under the expense warranty approach, give the entries to reflect the above transactions (accrual method) for 2020 and 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2020 (To record sale of computers) (To record liability against warranty costs) 2021 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer Part 2 The transactions of part (a) create what balance under current liabilities in the 2020 balance sheet? Current Liabilities- $