Bultfrog Computing {BFC} sells computers for $2,000 each, which includes a 3year warranty that requires the company to perform periodic services and to replace defective parts. The 3 year warranty is considered to have a sales value of $200 (included in the computer selling price of $2,000}. During 201?, BFC sold 500 computers on account. Based on past experience, the company has estimated the total 3year warranty costs at $80 for parts that come from BFC's inventory and $100 for labour {for each computer), spread evenly over the three years. [Assume sales all occurred on December 31, 201 1".) Iln 2018, BFC incurred actual warranty costs relative to 201? computer sales of $1 0,000 for parts and $12,000 for labour. I Instructions 2a. Using the revenue based approach,_prepare the entries to reect the above transactions for 201? and 2018. {T marl-(s) _ _b_ What wil be the balance of current liabilities and the balance of longterm liabilities [regarding warranties) on the 2018 statement of nancial position? [3 marks} :Please leave column A blank I would like to use that for marking. Answer each part to the question in the appropriate section below. Add rows as necessary Date Description DR CR