Nolan Electronics offers a 12 month warranty on all its computers. Nolan estimates that the warranty cost for every $ 2.000 sale of computer will cost Nolan $155 Required 1. Prepare the journal entries to recognize warranty expense and associated liability, assuming Nolan sells 3,000,000 computers during 2022, for which warranty workd has not yet been performed 2. Prepare the journal entries for warranty repairs, assuming that on December 31, 2022, Nolan spends $ 10,400 cash and parts costing $ 8,300 to its dealers for warranty repairs. 3. The estimated warranty liability at the end of 2021 was $ 100,000. At the end of 2022, Nolan estimates that an estimated liability of 10% of sales in 2022 is more than enough to cover the expected warranty costs. Prepare any applicable adjusting entries for Nolan to reflect this change in estimate