entry worksheet Record the adjustment to recognize the warranty expense on December 31 of Year 1. Note: Enter debits before credits. Journal entry worksheet Record the cost of repairs that occur on January 6 of Year 2 . Note: Enter debits before credits. TB Problem Qu. 9-191 (Algo) Warranty expense and liability computations and entries Apple sells a laptop (that costs $4,500 ) for $9,000 cash with a two-year parts warranty to a customer on September 20 of Year 1. Apple expects warranty costs to be 5% of dollar sales. It records warranty expense with an adjusting entry on December 31 . On January 6 of Year 2 , the laptop requires on-site repairs that are completed on the same day. The repair costs $103 for materials taken from the Parts inventory. These are the only repairs required in Year 2 for this laptop. Complete this question by entering your answers in the tabs below. 1. How much warranty expense does the company report for this laptop in Year 1? 2. How much is the estimated warranty liability for the laptop as of December 31 of Year 1 ? 3. How much is the estimated warranty liability for the laptop as of December 31 of Year 2? Journal entry worksheet 4 Journal entry worksheet Record the sale of a laptop for $9,000 cash. Note: Enter debits before credits