Hitzu Company sold a copier (that costs $5,500 for $11.000 cash with a two year parts warramy to a customine on August 10 of Year 1. Hitzu expects warranty costs to be 5% of dollar sales. It records warranty expense with an adjusting entry on December at. On . Aanuary 5 of Year 2, the copier requires on-site repairs that are completed the same divy. The repairs cost 5138 for matenals taken troin ine Darts inventory. These are the only repairs required in Year 2 for this copier. Required: 1. How much warranty expense does the company report for this copier in Year 1 ? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1 ? 3. How much is the estimated warranty liability for this copier as of December 31 of Year 2 ? 4. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Yent 1. and (c) the repairs that occur on January 5 of Year 2. Complete this question by entering your answers in the tabs below. Prepare journal entries to record (a) that Apier's sale; (b) the adjustment to recognize the warranty expense on Decumber 31 ef Year 4 if and (c) the repairs that occur on January 5 of Year 2. 1. How much warranty expense does the company report for this copier in Year 1 ? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1 ? 3. How much is the estimated warranty liability for this copier as of December 31 of Year 2 ? 4. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of 1, and (c) the repairs that occur on January 5 of Year 2. Complete this question by entering your answers in the tabs below. 1. How much warranty expense does the company report for this copier in Year 1 ? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1 ? 3. How much is the estimated warranty liability for this copier as of December 31 of Year 2 ? Complete this question ty entering your answers in the tabs helow. and (c) the repairn that occur of lanuary 5 of Year 2. Journal entry worksheet 4 Record the sale of a copler for $11,000 cash. Fiotei Enter debits tiefure oredta