Question Help Coburn Yard Equipment offers warranties on all its mowers estimates warranty percent of the begin 2011 remated Way Paye account credance of $2.000 haring the year, Coburn Yard Equipment had 5700,000 of sales and had to pay out 9700 in way for repair 1. Prepare the required joumanies to record warranty expense and payments December for the many date 2. What is the balance of the warranty by the end of 2019 indicate whether the balance is Requirement. Prepare the required joumanies to record warranty expense and pay December for the journal entry date Begin by recording the warranty expense (Record debits first, then credits Exclude explanations from unaletes General Journal Date Accounts Debit Credit 2019 Dec 31 Next record the warranty payments General Journal y number in the inputs and then continue to the next to Coburn Yard Equipment offers warranties on all its lawn mowers. It estimates warranty expense at 1.6 percent of sales. At the beginning of 2019, the Estimated Warranty Pa year, Coburn Yard Equipment had $700,000 of sales and had to pay out $9,700 in warranty payments for repairs. 1. Prepare the required journal entries to record warranty expense and payments. Use December 31 for the journal entry date. 2. What is the balance of the warranty liability at the end of 2019? Indicate whether the balance is a debitor a credit Next, record the warranty payments General Journal A Date Accounts Debit Credit Dec 31 Requirement 2. What is the balance of the warranty liability at the end of 2019? Indicate whether the balance is a debit or a credit. The balance of Estimated Warranty Payable at December 31, 2019 is $