P10.6A (LO 2) AP On January 1, 2019, Hopewell 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 $30 per unit. Sales and warranty figures for the three years ended December 31 are as follows: Record warranty transactions. 2019 2020 2021 1,700 $120 Sales (units) Sales price per unit Units returned for repair under warranty Actual warranty costs 1,500 $150 75 $2,250 1,800 $125 105 $2,640 90 $2,400 Instructions a. Calculate the warranty expense for each year and warranty liability at the end of each year. b. Record the warranty transactions for each year. Credit Repair Parts Inventory for the actual warranty costs. c. To date, what percentage of the units sold have been returned for repair under warranty? What has been the average actual warranty cost per unit for the three-year period