Marin Company sells televisions at an average price of $836 and also offers to each customer a separate 3-year warranty contract for $90 that requires the company to perform periodic services and to replace defective parts. During 2020, the company sold 321 televisions and 221 warranty contracts for cash. It estimates the 3-year warranty costs as $21 for parts and 541 for labor. and accounts for warranties separately. Assume sales occurred on December 31, 2020, and straight-line recognition of warranty revenues occurs. Your answer is correct Record any necessary journal entries in 2020.0f no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Cash 288246 268356 Sales Revenue 19890 Unearned Warranty Revenue Your answer is partially correct. What liability relative to these transactions would appear on the December 31, 2020, balance sheet and how would it be classified? Marin Company Balance Sheet (Partial) December 31, 2020 Current Liabilities $ Uneamed Warranty Revenue Long-term Liabilities $ Unearned Warranty Revenue eTextbook and Media List of Accounts 3.69/5 HII Your answer is partially correct. In 2021, Marin Company incurred actual costs relative to 2020 television warranty sales of $2,200 for parts and $4.150 for labor Record any necessary journal entries in 2021 relative to 2020 television warranties. Use "Inventory" account to record the warranty expense. (If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation Unearned Warranty Revenue Warranty Revenue (To record the warranty revenue earned.) Warranty Expense Inventory Salaries and Wages Payable (To record the warranty expense.) e Textbook and Media List of Accounts Your answer is partially correct. What amounts relative to the 2020 television warranties would appear on the December 31, 2021, balance sheet and how would they be classified? Marin Company Balance Sheet (Partial) December 31, 2021 Total Current Assets Unearned Warranty Revenue Long-term Liabilities Unearned Warranty Revenue e Textbook and Media List of Accounts