Pequired information The following information applies to the avestions displayed beloav] Hitzu Company sold a copier (that costs $4,500 ) for $9,000 cash with a wo-year parts wanranty to a customer on August 16 of Year 1 . Hitzu expects warranty costs to be 3% of dollar sales. It records warranty expense with an adjusting entry on December 3t On January 5 of Year 2, the copier requires on-site repairs that ace comploted the same day. The repairs cost $103 for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier. 1. How much warranty expense does the company report for this copier in Year 1? 2. How much is the estimated warranty liability for this copier as of December 31 of Voar 1 ? 3. How much is the estimated warranty lisbility for this copier as of December 31 of Year 2 ? 4. Propare joumal entres to record (a) the copler's sale; (a) the adjustment to recognize the warranty expense on December 31 of Year t and (Q) the repairs that occur on January 5 of Year 2. Complete this question by entering your answers in the tabs below. 1. How much warranty expense does the company report for this copier in Year 17 2. How much is the estimated warmanty liability for this copier as of December 31 of Year 1 ? 3. How much is the estimoted wacranty lisbility for this copler as of December 31 of vear 2 ? 1. How much wartanty expense does the company report for this copier in Year 1 ? 2. How much is the estimated warranty liability for this copier as of December 31 of Vear 1 ? 3. How much is the estimated warranty lability for this copler as of December 3 of Year 2 ? 4. Propare joumal entries to record (a) the copier's sale; (o) the adjutmont to recognize the warranty expense on December 31 of Year 1 ; and (d) the repolis that occur on January 5 of Year 2 Complete this question by entering your answers in the tabs below. Prepare journal entries to recond (a) the copler's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1 : and (c) the repairs that occur on January 5 of Year 2 . Journal entry worksheet 4 Record the sale of a copier for $9,000 cash. hink: Enter Sehita before vendes