Hitzu Co. sold a copier (that costs $5,500) for $11,000 cash with a two year parts warranty to a customer on August 16 of Year 1. expects warranty costs to be 5% of dollar sales. It records warranty expense with an adjusting entry on December 31 on January 5 of Year 2. the copler requires on-site repairs that are completed the same day. The repairs com $124 for materials taken from the repair parts inventory. These are the only repairs required in Year 2 for this copier 1. How much warranty expense does the company report for this copier in Year 1? Warranty per 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1? Estimated warranty liability 3. How much is the estimated warranty liability for this copier as of December 31 of Year 2? Estimated warranty liability 4. Prepare journal entries to record (a) the copler's sale: () the adjustment to recognize the warranty expense on December 31 of Yea 1; and ( the repairs that occur on January 5 of Year 2. View transaction list Journal entry worksheet Journal entry worksheet 1 2 3 On January 5 of Year 2, the copier requires on-site repairs that are completed the same day. The repairs cost $124 for materials taken from the repair parts inventory. Record the cost of the repair. Note: Enter debits before credits. Date General Journal Debit Credit Jan 05 View general journal Record entry Clear entry