Lowland Appliance Stores offers customers purchasing its appliances separately priced $($extended$)$ warranties. Lowland services these extended warranties. Its customers can receive no refunds for not using these warranties, and, of course, Lowland must honor these contracts$$regardless of any future costs in doing so$.$ It also $$tracks$$ the profits and losses these types of warranties generate by appliance category$$in order to help maintain a competitive price and costing structures. How should Lowland recognize the revenues and expenses of such extended warranties? Using the memo to fnd out their Facts$($Backgrounds$),$ Issues, Analysis, Conclusion, and Financial Statement and Disclosure Impacts by FASB codification?