Part B Only please

Early in 2020, Sage Equipment Company sold 500 Rollomatics at $5,900 each. During 2020, Sage spent $18,000 servicing the 2-year assurance warranties that accompany the Rollomatic. All sales transactions are on a cash basis. (a) Your answer is correct Prepare 2020 entries for Sage. Assume that Sage estimates the total cost of servicing the warranties in the second year will be $37,000. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Sale Cash 2,950,000 Sales Revenue 2,950,000 ring 2020 Warranty Expense 18,000 Cash, Supplies, Wages Payable 18,000 c.31.2020 Warranty Expense 37,000 Warranty Liability 37.000 (b) Prepare 2020 entries for Sage assuming that the warranties are not an integral part of the sale (a service-type warranty). Assume that of the sales total, $56,000 relates to sales of warranty contracts.Warranty costs incurred in 2020 were $18,000. Estimate revenues to be recognized on a straight-line basis. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 5 decimal places, eg, 1.54657 answers to decimal places, e.g. 5,125. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record warranty revenue)