D Question 3 Still Running Inc. has a warranty that states defective computers will be replaced with a new computer free of charge for the next 2 years. Still Running Inc. estimates that 2% of computers sold will require replacement. Each computer costs Still Running Inc. $595. During December 2020, Still Running Inc, sold 150 computers for cash for a total of $315,000. 2 computers were replaced during January 2021. (replacements were made from merchandise inventory) REQUIRED: 1. Prepare the December journal entries to record Sales and Cost of Goods Sold. (Make the entry on Dec. 31) During December 2020, Still Running Inc. sold 150 computers for cash for a total of $315,000. 2 computers were replaced during January 2021. (replacements were made from merchandise inventory) REQUIRED: 1. Prepare the December journal entries to record Sales and Cost of Goods Sold. (Make the entry on Dec. 31) 2. Prepare the December adjusting journal entry to estimate warranty liabilities. (Make this entry on Dec. 31) 3. Prepare the January entry to record the replacement of computers actually returned. (Make this entry on Jan. 31)