EX 11-20 Accrued product warranty OBJ. 5 Logan Manufacturing Co. warrants its products for one year. The estimated product war- ranty is 2.5% of sales. Assume that sales were $398,000 for January. In February, a cus- tomer received warranty repairs requiring $410 of parts and $250 of labor. a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. b. Journalize the entry to record the warranty work provided in February