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Brockville Mechanics Pty Ltd offers a 12-month guarantee with all car repairs and services. On 1 July 2019, the balance of the warranty provision account

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Brockville Mechanics Pty Ltd offers a 12-month guarantee with all car repairs and services. On 1 July 2019, the balance of the warranty provision account was $2,400. During the year ended 30 June 2020, warranty claims cost $3,000 of which $1,000 was for parts and $2,000 for labouc During the same year, revenue from car repairs was $280,000, an increase of more than 20% on the previous year. Management estimated that the liability for unexpired warranty contracts at 30 June 2020 was $2,400. There have been no changes in suppliers, product quality, or price. Disregard GST for this questione Required:- Prepare the general journal entry to record the warranty claims during the year ended 30 June 2020.- Group of answer choices DR: Inventory - Parts 1,000 and DR: Wages payable $2,000, CR: Provision for warranty $3,000 DR: Inventory - Parts 1,000 and DR: Wages payable $2.000, CR: Warranty expense $3,000 DR: Provision for warranty $3,000. CR: Inventory - Parts $1,000 and CR: Wages payable $2,000- DR: Warranty expense $3,000, CR: Inventory - Parts $1.000 and CR: Wages payable $2,000

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