Check my worl below.) Lindy Appliance begins operations in 2021 and offers a one- year warranty on all products sold. Total appliance sales in 2021 are $1,600,000, and Lindy estimates future warranty costs in 2022 to be 2% of current sales. Actual warranty costs in 2022 are $25,000. Also in 2022, Lindy has additional sales of $2,400,000 and revises its estimate of warranty costs associated with sales in 2022 to be 1.5%. Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the contingent liability for warranties for the year ending December 31 2021. 20 estimate of warranty costs associated with sales in 2022 to be 1.5%. Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the actual warranty expenditures, assuming all costs were paid in cash. Note: Enter debits before credits Date December 31.2022 Account Title Debit Credit 20 @ 31 999 F3 OOD F4 17 1 # 3 $ 2 4 % 5 6 & 7 B 8 Q W E C Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 8 View transaction list Journal entry worksheet 20 F1 F2 80 73 DOO DOBF4 # 2 3 $ 4 % 5 6 & 7 Q 8 8 W E R. T 1 Required information [The following information applies to the questions displayed below.) Lindy Appliance begins operations in 2021 and offers a one-year warranty on all products sold. Total appliance sales in 2021 are $1,600,000, and Lindy estimates future warranty costs in 2022 to be 2% of current sales. Actual warranty costs in 2022 are $25,000. Also in 2022, Lindy has additional sales of $2,400,000 and revises its estimate of warranty costs associated with sales in 2022 to be 1.5%. 4. What is the balance in Warranty Liability at the end of 2021 and 2022? 2021 2022 Warranty Liability