Color the World Co., started business in 2018 with a December 31 year end date. It sold high definition televisions for $2,000 each in 2018 and 2019, sold the TVs for $2,100 each in 2020. Each television includes one year warranty covering parts and labor. In addition the customer can purchase an extended warranty for additional two years for $100 to cover repairs needed after the original one year warranty expires. Warranty revenue is recognized evenly over the warranty time period.

The company sold 1,500 televisions in 2018 and 1,250 televisions in each year of 2019 and 2020. Out of the TVs sold, 30% was sold with extended warranty in 2018, 40% was sold with extended warranty in 2019 and 30% was sold with extended warranty in 2020. The company estimated that 12% of the TVs sold will require warranty within 1 year from the date of sale.

The company estimates that repair cost will be $110 for each television repaired to provide warranty. The company's repair data is provided in the following table.

Year	Number of TV repaired	Actual Repair Cost
2018	100	$11,500
2019	150	$15,300
2020	300	$25,200

Assume that all Warranty related transactions (Warranty Expense, Warranty Liability, Actual Warranty Cost and Warranty Revenue/Unearned Revenue) are recorded on Dec 31.

Based on the information provided, and based on your understanding of current liability, please answer the following questions.

Warranty Expense recognized in 2018 will be (Input number only, do not use comma (,) or $ sign)

Answer for part 1

Warranty Liability reported in balance sheet at end of 2019 will be (Input number only, do not use comma (,) or $ sign)

Answer for part 2

Warranty Revenue recognized in 2019 will be (Input number only, do not use comma (,) or $ sign)

Answer for part 3

Warranty Liability reported in balance sheet at end of 2020 will be (Input number only, do not use comma (,) or $ sign)

Answer for part 4

Unearned Revenue related to service type warranty reported in balance sheet at end of 2020 will be (Input number only, do not use comma (,) or $ sign)

Answer for part 5

Warranty Liability account will be debited in 2020 by the amount of (Input number only, do not use comma (,) or $ sign)

Answer for part 6

Warranty Revenue recognized in 2020 will be (Input number only, do not use comma (,) or $ sign)

Answer for part 7