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Exercise 9-10 Warranty expense and liability computations and entries LO P4 Hitzu Co. sold a copler costing $5,500 with a two-year parts warranty to a customer on August 16, 2017, for $11,000 cash. Hitzu uses the perpetual inventory system. On November 22, 2018, the copler requires on-site repairs that are completed the same day. The repairs cost $127 for materlals taken from the repair parts Inventory. These are the only repairs required in 2018 for this copler. Based on experience, Hitzu expects to Incur warranty costs equal to 4 % of dollar sales. It records warranty expense with an adjusting entry at the end of each year 1. How much warranty expense does the company report in 2017 for this copler? Warranty expense 2. How much is the estimated warranty llability for this copler as of December 31, 2017? Estimated warranty lability 3. How much warranty expense does the company report in 2018 for this copler? Warranty expense Assignment Saved 3. How much warranty expense does the company report In 2018 for thls copler? Warranty expense 4. How much is the estimated warranty liability for this copler as of December 31, 2018? Estimated warranty liability ences 5. Prepare journal entries to record (a) the copler's sale: (b) the adjustment on December 31, 2017, to recognize the warranty expense; and (c) the repairs that occur in November 2018. View transaction list Journal entry worksheet 1 2 3 4 Record the sale of a copier for $11,000 cash. 5. Prepare lournal entries to record (a) the copler's sale: (b) the adjustment on December 31, 2017, to recognize the warranty ex and (c)the repairs that occur in November 2018. View transaction list Journal entry worksheet K 1 Record the sale of a copier for $11,000 cash. Note: Enter debits before credits. Date General Journal Debit Credit Aug 16 2017 Record entry Clear entry View general joumal