M&M Co. sold a machine for $50,000 cash with a three-year parts warranty to a customer on March 1, 2019. Based on experience. M&M expects to incur warranty costs equal to 5% from sales. On March 1, 2020, the machine requires repairs. The repairs cost $3.000 for spare parts taken from the inventory. Required 1) What is the warrant Payable balance as of December 31, 2019 (1 Mark) 2) What is the warrant Payable balance as of December 31, 2020 (1 Mark) 3) What is the warrant Expense balance as of December 31, 2020 (1 Mark) Important note: Show all calculations. Use the editor to format your