NEED AN ANSWER ASAP PLZ

Gamers R Us Ltd. sells a variety of gaming accessories. The company provides a one-year standard manufacturers warranty on all products. Claims under the warranties generally result in replacing defective parts. During 2020, the estimated cost related to the one-year warranties was $12,000, of which $2,600 had been incurred before year end. They company used inventory to settle these claims. For an additional charge of $80, Gamers R Us also offers extended warranty coverage for three years. This amount is expected to cover the costs associated with the extended warranties. During 2020, Gamers R Us sold 1.850 of these warranties. The costs incurred during the year for repairs and replacements under these warranties amounted to $18,000. 1. Prepare the journal entries for the assurance warranty for 2020 (4 marks) 2. Prepare the journal entries for the sales-type warranty for 2020 (6 marks)