Coronado Company sells automatic can openers under a 75-day warranty for defective merchandise. Based on past experience, Coronado estimates that 4% of the units sold will become defective during the warranty period. Management estimates that the average cost of replacing or repairing a defective unit is $25. The units sold and units defective that occurred during the last 2 months of 2022 are as follows. Month Units Sold Units Defective Prior to December 31 39,600 792 November December 41.600 520 (a) Your Answer Correct Answer Your answer is partially correct Prepare the journal entry to record the costs incurred in honoring 1,312 warranty claims. (Assume actual costs of $32,800.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Warranty Expense 81200 Warranty Liability 32800 e Textbook and Media List of Accounts Attempts: 5 of 5 used (b) Prepare the journal entry to record the warranty liability at December 31 for the units sold in November and December. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (c) Give the entry to record the honoring of 500 warranty contracts in January at an average cost of $25. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Warranty Llability Cash