Hitzu Company 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 . Hitzu expects warranty costs to be 3% of dollar sales. It records warranty expense with an adjusting entry on December 31 . On January 5 of Year 2, the copier requires on-site repairs that are completed the same day, The repairs cost $90 for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier: Exerclse 9-12 (Algo) Warranty expense and llability computations and entrles LO P4 1. How much warranty expense does the company report for this copier in Year 1 ? 2. How much is the estimated warranty liabifity for this copier as of December 31 of Year 1 ? 3. How much is the estimated warranty Hiability 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 Year 1 ; and (c) the repairs that occur on January 5 of Year 2