Practice Summer 2018 SamSing Inc. has discovered that its phones' batteries are prone to exploding and causing a fire. It has 200,000 sold phones (currently with customers) with this kind of a problem as of December 31, 2017. Approximately half of those phones are still under warranty and may be returned for a full refund of $600 per phone. However, SamSing believes that its store managers will provide a refund on all phones of that type (even those whose warranty has expired). SamSing estimates that of those phones still under warranty, about 80% of customers will return them for a refund. SamSing expects that of the phones not under warranty, about 30%of those phones will be returned. what is SamSing's liability related to these phones? a) What issuesfrules/concepts do you need to consider to report the balance sheet as fairly stated" as of 12/31/2017? b) What/how will you measure? c) Is a JE necessary at 12/31/17? If so, show in general journal form, T-Account form and on the accounting equation