CHECK FIGURES: $2.$ $$1,750$; $3.$ $$40,600$; $4.$ $$40,145$On November $10,10,2023$ Singh Electronic began to buy and resell scanners for $$75$ each Singh uses the perpetual system to account for inventories. The scanners are covered under a warranty that requires the company to replace any non working scanner within $90$ days. When a scanner is returned, the company simply throws it away and mails a new one from inventory to the customer. The company's cost for a new scanner is only $$35.$Singh estimates warranty costs based on $15\%$ of the number of units sold. The following transactions occurred in $2023$ and $2024($ignore GST and PST$)$:$2023$Nov. $1530$Dec$\mathrm{.}8152931$ Sold $2,000$ scanners for $$110,000$ cash.Recognized warranty expense for November with an adjusting entry.Replaced $150$ scanners that were returned under the warranty.Sold $5,500$ scanners.Replaced $40$ scanners that were returned under the warranty.Recognized warranty expense for December with an adjusting entry$\mathrm{.}2024$Jan$\mathrm{.}142031$Sold $275$ scanners.Replaced $63$ scanners that were returned under the warranty.Recognized warranty expense for January with an adjusting entry.Required$1.$ How much warranty expense should be reported for November and December $2023?2.$ How much warranty expense should be reported for January $2024?3.$ What is the balance of the estimated warranty liability as of December $31,2023?4.$ What is the balance of the estimated warranty liability as of January $31,2024?5.$ Prepare journal entries to record the transactions and adjustments $($ignore sales taxes$).$