Madison 101 honored scanners (from #7 above).

(#7. Madison Co. sells 13,000 scanners at a price of $250.00each. The selling price includes a warranty (1 year) on parts.Madison expects that 4.5% of the scanners will be defective andthat warranty repair costs will be $56 per unit. Complete thefollowing: a. Journalize the sale (assume a 7.75% sales tax rate).b. Estimate, and then journalize the warranty liability.)