Please be specific in the calculation. Thanks

On January 2, 2020, Magnus Manufacturing Company, a private company following ASPE, sold machinery with a 2-year warranty against manufacturing defects. Magnus also sold a 2-year extended warranty on these machines. Each machine and warranty is sold on account. Additional information regarding both the sales and warranties follows: $ $ Sale price of each machine Estimated cost of replacement parts per machine under assurance warranty Number of machines sold during 2020 Total repair costs incurred by Magnus Manufacturing during the 2020 year Sale price of extended warranty per machine Number of customers who purchased extended warranty Total repair costs incurred by Magnus Manufacturing during the 2022 year $ $ 1,947 214 1,004 118,820 429 853 151,006 $ Assume that the revenue from the extended warranty is earned evenly over the 2-year contract, and that Magnus has a year end of December 31. Required: 1. Prepare all journal entries required during the 2020 year for the sale of the machines, the warranty costs, and the extended warranty proceeds. Ignore the impact of cost of goods sold in recording your entries. 2. Prepare all journal entries required during the 2022 year for the service-type warranty