Jonus Bike Inc., manufactures and sells high-end bicycles. Each bicycle that the company sells comes with a 5 year unlimited warranty. Based on past experience, Jonus' accountant estimates that for every $3,000 worth of sales, Jonus will have to pay out $78 in warranty costs. Do not enter dollar signs or commas in the input boxes. a) This year, Jonus Bike Inc. had sales of $1,080,000. First, calculate the estimated warranty costs based on the accountant's analysis. Date Account Title and Explanation Debit Credit Dec 31 e Record warranty liability b) As part of the warranty program, Jonus had to make repairs to the seat post of 21 bicycles that he sold. Jonus spent $1,390 cash. Prepare the journal entry to record this transaction. Date Account Title and Explanation Debit Credit Dec 31 Record warranty repairs