Question 22 4 points SaveAnswer Barton Manufacturing sells power tools. On July 1, 2021, the company sold 100 power drills at $60 each (cost $40). The power drills come with an assurance warranty when purchased that guarantees the product is free of defects. Barton also sold $2,000 in extended 3-year warranties on the power drills sold in 2021, effective on the date the power drills were sold. In evaluating its future obligations to honor the assurance warranty on products sold in 2021, Barton estimates an additional $1,000 in future warranty costs. On the date of sale, which of the following entries would be made regarding the warranty obligations? COA Warranty lablity Debit 500 Credit Warranty revenue 500 Debit Credit Cash 18,000 Service revenue 18,000 OC Debit Credt Warranty expense 3,000 Warranty Bability 3,000 OD. No entry is necessary until the warranty liability arises OL Debit Credit Warranty expense 1,000 Warranty lablity 1,000