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on May 1 2020, ABC Co. Started merchandising business . ABC sells product with a 3 month warranty. Management estimates that the average cost of repairing a defective Unit is $16 . The manufacturer of product has advised ABC to expect warranty costs to equal 10 % of dollar sales. Journalize the following transactions. May 15 Sold So units for $4,000 cash. june 12 sold 20 units for $ 1,600 cash. june 30 Estimated liability for warranties related to May and june sales. July 10 Repaired 10 products that were received under the warranty claim