During 2019, Daniel Company sold 1,000 machines with a one-year warranty. The company estimated that 4% of the machines will be defective and the warranty repair cost is $60 per machine. In 2019, the company honors warranty contracts for 15 machines. .... 1)The adjusting entry to accrue the estimated warranty costs is: * Debit Warranty Expense $8,000 Credit Warranty Liability $8,000 Debit Warranty Expense $2,400 Credit Warranty Liability $2,400 Debit Warranty Liability $8,000 Repair Parts $8,000 Debit Warranty Liability $2,400 Repair Parts $2,400 None of the above .... 2)The entry to record the honoring of warranty contracts in 2019 will include: * Debit Warranty Liability $900 Credit Cash $900 Debit Repair Parts $480 Debit Warranty Expense $900 None of the above ...... 3)If the entry to record the honoring of warranty contracts in January 2020 is amounted for $240 then the honored warranty contracts are: * 14,400 machines 240 machines 9.6 machines 4 machines None of the above