Great Motors Limited guarantees automobiles against defects for five years of 160,000 km, whichever comes first. Suppose GM can expect warranty costs during the five-year period to add up to 7% of sales Assume that Dawson Motors in Waterloo, Ontario, made sales of $2,200,000 on is performance line during 2020. Dawson received cash for 9% of the sales and took notes receivable for the remainder. Payments to satisfy customer warranty claims totalled $80,000 during 2020 1. Record the sales, warranty expense, and warranty payments for Dawson Ignore any reimbursement that Dawson may receive from GM 2. Post to the Estimated Warranty Payable T-account. The beginning balance was $37.000. At the end of 2020, how much in estimated warranty payable does Dawson owe its customers? 1. Record the sales, warranty expense and warranty payments for Dawson Ignore any reimbursement that Dawson may receive from GM First, let's record the sale of automobiles (Record debits first, then credits. Explanations are not required.)