Fusion, Inc. introduced a new line of circuits in 2023 that carry a four-year warranty against manufacturer's defects. Based on experience with previous product introductions, warranty costs are expected to approximate 3% of sales. Sales and actual warranty expenditures for the first year of selling the product were: Sales $15 million Actual warranty Expenditures $200,000 Required: Prepare journal entries that summarize sales of the circuits (assume all credit sales) and any aspects of the warranty that should be recorded during 2023. 1) Sales on Credit 2) Accrued Warranty Liability/Expense 3) Actual Expenditures