Question 2 Chevla is a manufacturer of hot tubs. Chevla's hot tubs are sold with a typical "assurance-type" warranty of six months. At the time of a sale, the purchaser has the option to buy the hot tub with a 5-year extended warranty. The 5-years would begin after the end of the six-month assurance-type warranty. If the purchaser chooses not to buy the 5-year extended warranty at the time of the purchase, the purchaser can still buy the 5-year extended warranty up to six months later. The following information is available regarding the manufacturer's "Nova" model of hot tub: (a) The normal selling price of a Nova, without the 5-year extended warranty, is $14,000. The cost of goods sold is $9,000. (b) When a Nova is purchased as a package with the 5-year extended warranty, the selling price for the package is $15,000. This special offer is only available at the time of the initial purchase. (c) If the 5-year optional extended warranty were to be purchased by itself (separate from the hot tub), the price would be $1,500. (d) Chevla estimates that its hot tubs will have assurance-type warranty claims of 3% of sales revenue. REQUIRED 1. If Chevla sold a Nova, for cash, without a 5-year extended warranty, prepare all of the applicable journal entries at the date of delivery associated with the sale. 2. If Chevla sold a Nova, for cash, with the 5-year extended warranty as a package, prepare all of the applicable journal entries at the date of the delivery associated with the sale