Requirements 1. Record the sales, warranty expense, and warranty payments for the company. Ignore cost of goods sold. 2. Assume the Estimated Warranty Payable is $0 on January 1,2024 . Post the 2024 transactions to the Estimated Warranty Payable T-account. At the end of 2024, how much in Estimated Warranty Payable does the company owe? Hipster guarantees its snowmobiles for three years. Company experience indicales that warranty costs wil be approximately 7 Wh of sales. Astume that the Ifipoter dealer in Colorado. Springs made sales totaling 5450,000 during 2024 . The company received cash for 30% of the sabos and notes recikable for the remainder. Warianty pojmethts fotaled 521,000 diting 2024 Read the reguicenchts Requirement 1. Rocord the sales, warranty expense, and warranty payments for the company. lgnore cost of goods sold (Record delilts firat, ihen ciedits. Seloct the explanution on the last line of the joumal entry table.) Begh with the entry to record the sales. (Prepare a single compound entry for this transaction)