On January 1, 2022, Sandhill Company began a warranty program to stimulate sales. It is estimated that 5% of the units sold will be returned for repair at an estimated cost of $38 per unit. Sales and warranty figures for the three years ended December 31 are as follows: Sales (units) Sales price per unit Units returned for repair under warranty Actual warranty costs (a) 2022 Your answer is correct. 2024 2023 $ (b) $ $ Warranty Expense eTextbook and Media List of Accounts Date 3,420 3,800 2,280 Calculate the warranty expense for each year and warranty liability at the end of each year. 1,800 Account Titles 2022 $ $3,420 $ $250 $ 95 (To accrue warranty expense.) (To record honouring warranty contracts.) (To accrue warranty expense.) 2023 (To record honouring warranty contracts.) (To accrue warranty expense.) 2,000 $3,326 $220 (To record honouring warranty contracts.) 120 Warranty Liability 0 Record the warranty transactions for each year. Credit Repair Parts Inventory for the actual warranty costs. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem. List debit entry before credit entry.) 474 2024 604 1,200 $225 125 $2,150 Assistance Used Attempts: 1 of 3 used Debit Credit On January 1, 2022, Sandhill Company began a warranty program to stimulate sales. It is estimated that 5% of the units sold will be returned for repair at an estimated cost of $38 per unit. Sales and warranty figures for the three years ended December 31 are as follows: Sales (units) Sales price per unit Units returned for repair under warranty Actual warranty costs (a) 2022 Your answer is correct. 2024 2023 $ (b) $ $ Warranty Expense eTextbook and Media List of Accounts Date 3,420 3,800 2,280 Calculate the warranty expense for each year and warranty liability at the end of each year. 1,800 Account Titles 2022 $ $3,420 $ $250 $ 95 (To accrue warranty expense.) (To record honouring warranty contracts.) (To accrue warranty expense.) 2023 (To record honouring warranty contracts.) (To accrue warranty expense.) 2,000 $3,326 $220 (To record honouring warranty contracts.) 120 Warranty Liability 0 Record the warranty transactions for each year. Credit Repair Parts Inventory for the actual warranty costs. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem. List debit entry before credit entry.) 474 2024 604 1,200 $225 125 $2,150 Assistance Used Attempts: 1 of 3 used Debit Credit