Gonzalez Equipm Company sold During 2024, All applicable Instructions: (a) Gonzalez spent transactions 1000 Rollomatics during 2024 at $15,000 servicing the 2-year warranties are on a cash basis. $500 each. on Rollomatic. Prepare 2024 entries for Gonzalez using the expense warranty approach. Assume that Gonzalez estimates the total cost of servicing the warranties will be for 2 years. $45,000 (b) Prepare 2024 entries for Gonzalez assuming that the warranties are not an integral part of the sale. Assume that of the sales total, $80,000 relates to sales of warranty contracts. Gonzalez estimates the total cost of servicing the warranties will be Estimate revenues earned on the basis of costs incurred and estimated costs. $50,000 for 2 years.