Exercise 13-11 (Part Level Submission) Early in 2017, Sarasota Equipment Company sold 500 Rollomatics during 2017 at $6,200 each. During 2017, Sarasota spent $19,000 servicing the 2-year warranties that accompany the Rollomatic. All applicable transactions are on a cash basis. (a) Your answer is correct. Prepare 2017 entries for Sarasota. Assume that Sarasota estimates the total cost of servicing the warranties will be $57,000 for 2 years. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit At Sale Cash 3100000 Sales Revenue 3100000 During 2017 Warranty Expense 19000 Cash, Supplies, Wages Payable 19000 Dec. 31, 2017 Warranty Expense 38000 Warranty Liability 38000 (b) Prepare 2017 entries for Sarasota assuming that the warranties are not an integral part of the sale (a service-type warranty). Assume that of the sales total, $58,000 relates to sales of warranty contracts. Sarasota estimates the total cost of servicing the warranties will be $57,000 for 2 years. Estimate revenues to be recognized on a straight-line basis. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 5 decimal places, e.g. 1.54657 answers to 0 decimal places, e.g. 5,125.) Date Account Titles and Explanation Debit Credit (To record warranty revenue)