Hitzu Company sold a copler (that costs $3.500 ) for $7,000 cash with a two-year parts warranty to a customer on August 16 of Year 1 . Hitru expects warranty costs to be 3% of dollar sales. It records warranty expense with an adjusting entry on December 31 . On Januaty 5 of Year 2, the copier requires on-site repairs that are completed the same day. The repairs cost $115 for materials taken from the parts 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 llability 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 joumal 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. Complete this question by entering your answers in the tabs below. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year ti; and (c) the repairs that occur on January 5 of Year 2 . Journal entry worksheet and (c) the repairs that occur on 3anuary 5 of Year 2. Journal entry worksheet 4 Record the sale of a copier for $7,000cash. Note: Enter debits before credits. Journal entry worksheet Recordthecostofgoodssoldof$3,500. Totel Enter dethits before credits. Journal entry worksheet Record the estimated warranty expense at 3% of the sales. Note. Enter debuts before credits. Journal entry worksheet 1 Record the cost of repairs that occur on January 5 of Year 2. Note: Enter debits before credits