Catskills guarantee its snowmobiles for three years Company experience indicates that warranty costs will be approximately 5% of sales. Assume that the Cats dealer in Colorado Springs made sales totaling 5650,000 during 2024 The company received cash for 10% of the sales and notes receivable for the remainder Warranty payments totaled $12.000 during 2024 Read the requirements Requirement 1. Record the sales, warranty expense, and warranty payments for the company Ignore cost of goods sold (Record debits first, then credits Select the explanation on the last line of the journal entry table) Begin with the entry to record the sales (Prepare a single compound entry for this transaction) Accounts and Explanation Debilt Credit 2024 Notes Receivable Sales Reven Date To record salon for 2024 - det 0 Requirements sales, ne of the d the sal Accou 1. Record the sales, warranty expense, and warranty payments for the company. Ignore cost of goods sold 2. Assume the Estimated Warranty Payable is 50 on January 1, 2024. Post the 2024 transactions to the Estimated Warranty Payable T-account. At the end of 2024, how much in Estimated Warranty Payable does the company owe? able ue Print Done