on nov.

On November 10, 2023, Singh Electronics began to buy and resell scanners for $45 each. Singh uses the perpetual system account for inventories. The scanners are covered under a warranty that requires the company to replace any non-working scanner within 90 days. When a scanner is returned, the company simply throws it away and mails a new one from inventor? the customer. The company's cost for a new scanner is only $25. Singh estimates warranty costs based on 15% of the numb units sold. The following transactions occurred in 2023 and 2024 (ignore GST and PST): Nov.Dec.29312024203120231530815Replaced62scannersthatwerereturnedunderthewarranty.RecognizedwarrantyexpenseforDecemberwithanadjustingentry.14Replaced84scannersthatwerereturnedunderthewarranty.RecognizedwarrantyexpenseforJanuarywithanadjustingentry.Sold3,460scannersfor$153,0e0cash.RecognizedwarrantyexpenseforNovemberwithanadjustingentry.Replaced260scannersthatwerereturnedunderthewarranty.Sold6,60escanners.sold30escanners. Required: 1. How much warranty expense should be reported for November and December 2023 ? Required: 1. How much warranty expense should be reported for November and December 2023 ? 2. How much warranty expense should be reported for January 2024 ? (Round your intermediate calculations and final answer to the nearest whole number.) 3. What is the balance of the estimated warranty liability as of December 31,2023 ? 4. What is the balance of the estimated warranty liability as of January 31,2024 ? 5. Prepare journal entries to record ALL transactions and year-end adjustments (ignore sales taxes). (Round intermediate calculations and final answer to the nearest whole number.) Journal entry worksheet