Cool Air, Inc. sells products with a one-year warranty covering parts and labor. The following table lists the company's three major product lines, the percentage of the products sold in each product line that are returned while under warranty, and the average warranty-related cost incurred on each returned item. Product Line Air Conditioners Air Compressors Fans % of products returned 7% 9% 6% while under warranty $150 $40 Warranty cost per returned item $12 2,000 1,350 1,700 Unit sales during April Required: (a) Compute the estimated product warranty expense that should be recorded by Cool Air at the end of April and prepare the appropriate adjusting entry. (b) During the first week in May, Cool Air paid warranty-related costs of $6,800. Prepare the entry to record these payments. After solving Part (a) and Part (b): What is the debit for Part (a) and what is the debit for Part (b)