On. November 10, 2020, Singh Electronics began to buy and resell scanners for $51 each. Singh uses the perpetual system to account for inventories. The scanners are covered under a warranty that requires the company to repiace any non-working scanner within 90 days. When a scanner is returned, the company simply throws it away and mals a new one from inventory to the customer. The company's cost for a new scanner is only $31. Singh estimates warranty costs based on 15% of the number of units sold. The foliowing transactions occurred in 2020 and 2021 (ignore GST and PSTF: Hov. 15 Sold 3,000 scanners for $153,000 cash. 39 Recognized warranty expense for November with an adjusting entry: Dec. 8 Replaced 120 scanners that were returned under the warranty. 15 Sold 7,200 scanoers. 29 Replaced 34 scanners that were returned under the warronty. 31 Recognized warranty expense for Decenber with an odfusting entry. 2021 sold 260 scanners. 20 Replaced 46 scannees that were returned under the wareanty. 31 Recognlzed warranty expense for january with on adjostine entey. Required: 1. How much warranty expense should be reported for November and December 20203 2. How much wacranty expense should be reported for January 2021 ? (Round your intermediate calculations and final answer to the nearest whole number.) 2. How much warranty expense should be reported for January 2021 ? (Round your intermediote calculations and finol answer to the nearest whole number.) 3. What is the balance of the estimated warranty liability as of December 312020? 4. Whot is the balance of the estimated warranty liability os of January 31.2021? 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 Record the sale of scanners to customers. Nobe inter debits before credits. On November 10,2020, Singh Electronics began to buy and resell scanners for $51 each Singh uses the perpetual system to 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 inventory to the customer. The company's cost for a new scanner is only \$31. Singh estimates warranty costs based on 15% of the number of units sold. The following transactions occurred in 2020 and 2021 (ignore GST and PST): Required: 1. How much warranty expense should be reported for November and December 2020? 2. How much warranty expense should be reported for January 2021 ? (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. 2020? 4. What is the balance of the estimated warranty liability as of January 31,20218 5. Prepare journal entries to record ALL transactions and year-end adjustments (ignore sales taxes). (Roun intermediate calculations and final answer to the nearest whole number.) Journal entry worksheet Record the sale of scanners to customers. Nose: Enter debits before credits