Cheerolet Canada guarantees vehicles against defects for five years or 170,000 km whichever comes first. Suppose Cheerolet can expect warranty costs during this period to add up to 2.5% of sales. Assume that a local car dealership, Cheer-Guelph, made sales of $4,000,000 on their hybrid car line during 2021. Cheer-Guelph received cash for 20% of the sales and sells the rest on account. Payments to satisfy customer warranty claims totaled $65,000 duri 2021. Requirement 1: Record the sales, warranty expense, and warranty payments for Cheer-Guelph. Ignore any reimbursement that Chee Guelph may receive from Cheerolet Canada. Requirement 2: Post to the Estimated Warranty Payable T-account. The beginning balance was $50,000. Please fill out the blanks below. After submitting the exam, upload your calculations to the dropbox. Examples: For each journal entry, use 3 Blanks (in chronological order) to enter the 1) debit account; 2) credit account; 3) $-amount. Carefully review examples below: E.g. Blank A: Accounts Payable Blank B: Cash Blank C: 35000 In the case of longer journal entries, order the accounts according to the amount, starting with the higher amount: E.g. Blank A (debit 1): Cash Blank B (higher amount): 9500 Blank C (debit 2): Sales Discount Blank C (debit 2): Sales Discount Blank D (lower amount): 500 Blank E (credit): Accounts Receivable Blank F: 10000 1) Record the sales on account: Blank #1: debit account 1 Blank #2: $-amount 1 (higher amount) Blank #3: debit account 2 Blank #4: $-amount 2 (lower amount) Blank #5: credit account Blank #6: $-amount 2) To accrue Warranty Expense: Blank #7: debit account Blank #8: credit account Blank #9: $-amount To pay warranty claims: Blank #10: debit account Blank #11: credit account Blank #12: $-amount Additional questions: Blank #13: What is the ending balance of the Estimated Warranty Payable account? Blank #14: How much in Estimated Warranty Payable does Cheer-Guelph owe to its customers in 2021? Required format: only enter numbers. no $-signs or commas. Round final results to total $-amounts