Problem 13-06 (Part Level Submission) Coronado Company sells televisions at an average price of $910 and also offers to each customer a separate 3-year warranty contract for $87 that requires the company to perform periodic services and to replace defective parts. During 2020, the company sold 291 televisions and 251 warranty contracts for cash. It estimates the 3-year warranty costs as $20 for parts and $40 for labor, and accounts for warranties separately. Assume sales occurred on December 31, 2020, and straight-line recognition of warranty revenues occurs. (a) Your answer is correct. Record any necessary journal entries in 2020. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 286647 Sales Revenue 264810 Unearned Warranty Rey 21837 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT (b) Your answer is partially correct. Try again. What liability relative to these transactions would appear on the December 31, 2020, balance sheet and how would it be classified? Coronado Company Balance Sheet (Partial) For the Year Ended December 31, 2020 X Current Assets Cash 286647 Current Liabilities X Unearned Warranty Rey 21837 LINK TO TEXT