Estimated Warranty Liability Cook-Rite sold $718,000 of consumer electronics during July under a six-month warranty. The cost to repair defects under the warranty is estimated at 4% of the sales price. On November 10, a customer was given $240 cash under terms of the warranty (a) Provide the journal entry for the estimated warranty expense on July 31 for July seles. If an amount box does not require an entry, leave it blank July 31 (b) Provide the journal entry for the November 10 cash payment. If an amount box does not require an entry, leave it blank. Nov. 10