Required information (The following information applies to the questions displayed betow) Hitzu Company sold a copier (that costs $3,500 ) for $7,000 cash with a two-year parts warranty to a customer on August 16 of Year 1 . Hitzu expects warranty costs to be 4% of dollar sales. It records warranty expense with an adjusting entry on December 31. On Jartuary 5 of Year 2, the copler requires on-site repairs that are completed the same day. The repairs cost $119 for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier: How much warranty expense does the company report for this copier in Year 17 2. How much is the estimated warranty lability for this copier as of December 31 of Year 17 ? 3. How much is the estimated watranty lability for this copier as of December 3t of Year 27 ? 4. Prepare joumal enties to record (a) the copler's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year ; and (c) the repairs that occur on January 5 of Year 2 . Complete this question by entering your answers in the tabs below. 1. How much warranty expense does the campany report for this copier in Year 1 ? 2. How much is the eitimated warranty lisbility for this copler as of oecember 31 of Year 17 ? 3. How much is the estimated warranty lisbility for this copler as of oecember 31 of Year 27 Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warrar and (c) the repairs that occur on January 5 of Year 2. Journal entry worksheet Record the sale of a copier for $7,000 cash. Note: Enter debits before credits. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expen: and (c) the repairs that occur on January 5 of Year 2 . Journal entry worksheet Note: Enter debits before credits. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warrai and (c) the repairs that occur on January 5 of Year 2. Journal entry worksheet Record the estimated warranty expense at 4% of the sales. Note: Enter debits before credits. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on Dec and (c) the repairs that occur on January 5 of Year 2. Journal entry worksheet Record the cost of repairs that occur on January 5 of Year 2. Note: Enter debits before credits