General Motors of Canada Limited guarantees automobiles against detects for five years or 160.000 km, whichever comes first Suppose GM Canada can expect any conte during the fue year period to add up to 6% ose Asume that Best Motors in Onwa Ontario made sales of $2.300,000 on es futszeine during 2020. Best received cash for of the sales and took notes receivable for the remainder Payments to satisfy customer warranty claims totale $50.000 during 2020 1. Record the sales, warranty expense and warranty payments for Bestyrore any reimbursement that Best may receive from GM Canada 2. Post to the Estimated Warranty Payable account the beginning balance was $44.000. At the end of 2020, how much in estimated warranty payable des Best owe its customers? 1. Record the sales, warranty expense, and warranty payments for Best. Ignore any reimbursement that Best may receive from GM Canada. First, let's record the sale of automobiles (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit Now, let's accrue the warranty expense. Journal Entry Accounts Debit Credit Next, we will record the payment of warranty expenses. Journal Entry Accounts Debit Credit nhin Taint The hecinning balance was $44,000. At the end of 2020, how much in estimated warra 2. Post to the Estimated Warranty Payable T-accout. The beginning balance was $44,000. Al the end of 2020, how much in estimated warranty payable does Best owe its customers? Select the appropriate descriptions, enter the beginning balance, post the entries, and calculate the ending balance of the Estimated Warranty Payable account. (Leave any unused cells blank.) Estimated Warranty Payable than iaithan ntinue to the next