Brief Exercise 20-7 (Algo) Warranty expense (LO20-4) In 2020, Quapau Products introduced a new line of hot water heaters that carry a one-year warranty against manufacturer's defects. Based on industry experience, warranty costs were expected to approximate 5% of sales revenue. First-year sales of the heaters were $200,000. An evaluation of the company's claims experience in late 2021 indicated that actual claims were less than expected-4% of sales rather than 5%. Assuming sales of the heaters in 2021 were $250,000 and warranty expenditures in 2021 totaled $8,000, what is the 2021 warranty expense? Warranty expense Exercise 21-10 (Algo) Summary entries for cash paid for income taxes (LO21-3) For each of the five independent situations below, prepare a single journal entry that summarizes the recording and payment of income taxes and determine the amount of cash paid for income taxes. All dollars are in millions. Complete this question by entering your answers in the tabs below. Cash Paid for Taxes General Journal Prepare a single journal entires that summarizes the recording and payment of income taxes. (If no entry is req! transaction/event, select "No journal entry required in the first account field. Enter your answers in millions roul (.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 1 2 3 4 5 > Record the summary entry for transaction 1. Note: Enter debits before credits Event General Journal Debit Credit