Green Motors Limited guarantees automobiles against defects for five years or 160,000 km, whichever comes first. Suppose GM can expect warranty costs during the five-year period to add up to 5% of sales Assume that Forbes Motors in Stratford, Ontario, made sales of $2,200,000 on its performance line during 2020. Forbes received cash for 13% of the sales and took notes receivable for the remainder. Payments to satisfy customer warranty claims totaled $85,000 during 2020. 1. Record the sales, warranty expense, and warranty payments for Forbes. Ignore any reimbursement that Forbes may 2. Post to the Estimated Warranty Payable T-account. The beginning balance was $41,000. At the end of 2020, how much in estimated warranty payable does Forbes owe its customers? e tips for m 1. Record the sales, warranty expense, and warranty payments for Forbes. Ignore any reimbursement that Forbes may receive from GM First, let's record the sale of automobiles (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Credit Debit 2. Sh an Now, let's accrue the warranty expense. Journal Entry Accounts Debit Credit Next, we will record the payment of warranty expenses also want Journal Entry Accounts Debit Credit lages sent attached hame. Pleas ur email con Now, let's accrue the warranty expense. Journal Entry Accounts 1. A Debit Credit Next, we will record the payment of warranty expenses. Journal Entry Accounts Debit Credit also war 2. Post to the Estimated Warranty Payable T-account. The beginning balance was $41,000. At the end of 2020, how much in estimated warranty payable does Forbes 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 lages sent attached hame. Ple: ur emailcc clude info Your tutor Choose from any list or enter any number in the input fields and then continue to the next