Cookie Creations 11 a-e Recall that Cookie Creations sells fine European mixers that it purchases from Kzinski Supply Co. Kzinski warrants the the mixer has such a defect, Kzinski will repair or replace the mixer free of charge for parts and labor. The product must return the product to the consumer is paid by Kzinski. The authorized service center is located in Boston. Because Cookie Creations values serving its customers, it pays the shipping to Boston for any mixers needing repair under Kzinski's warranty terms. Based on past experience, Kzinski has Boston is $60. The following transactions take place in 2020 and 2021. 1. A total of 30 mixers are sold in 2020. 2. Four of the mixers sold in 2020 are returned for repair in 2021. The total shipping cost for returning these four mixers 3. A total of 40 mixers are sold in 2021. to Boston is $210. to Boston is $55. [ Your answer is correct. Calculate Cookie Creations' warranty liability for the shipping costs at December 31, 2020. Warranty liability 74003 Prepare the summary journal entry (or entries) to record the shipment of the six mixers (four from the 2020 sales and two from the 2021 sales) for warranty repair in 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Warranty Expense 240 Warranty Liability To record shipment of 2020.) Warranty Liability 240 265 cash 265 (To record shipment of 2021.) SHOW LIST Your answer is incorrect. Try again. Calculate Cookie Creations' warranty liability at December 31, 2021. (Hint: Note that there is no liability outstanding for the mixers sold in 2020. The one-year warranty period has expired.) Warranty liability 155