Exercise #15 -ABC Company sells Home appliances both in Cash and in credit On December 31st 2020, when preparing its financial statements, it notices the following Total sales in 2020 345,000 of which 80% on Credit ABC considers it will occur 5% warrantee expenses. Questions: a-Prepare the entry to estimate warrantee liabilities based on my 2020 sales. b-in fact 3% of sales were returned and required repair costing 8,280 paid in cash Journalize the transaction c-What is the balance of Estimated warrantee liabilities now? The cost of repairs was 5,678-paid in cash