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Problem 13-7 Swifty Company se s machrie or $7,340 with a 12-month warranty agreerner hat re ures he company to replace all defective parts and o provid e repair abor a no cos o he customers with sales being made evenly throughout the year, he company sells 720 machines in 2017 warranty expense is ncurred half in 2017 and half in 2018 As result at product esting the company estimates that he warranty cost ts $282 per machine S122 parts and $160 abor Use Inventory account to record he warrant e per se ssuming that actual warranty costs are incurred exactly as estimated, what journal entries would be made relative to the fallowing facts? Sale of machinery and warranty expense incurred in 2017. (if no entry is required, select "No Entry" for the account titles and enter O for the amaunts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit To record sele) To record waranty epense) Show LIST OF ACCOUNTS Warranty accruaon December 31, 2017. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented wwhen amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit O TEXI Warranty costs incurred in 2018. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatlcaily Indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit What amount, if any, is disclosed in the balance sheet as a liability for future warranty costs as of December 31, 2017 Warranty liability Click if you would like to Show Work for this question: en Show Work Problem 13-7 Accounts Payable Accounts Receivable Accumulated Depreciation-Plant Assets Allowance from Expropriation Asset Retirement Obligation Cash Depreciation Expense Dividends Payable Due to Customer Discount on Notes Payable FICA Taxes Payable Freight-In FUTA Taxes Payable Insurance Premium Payable Interest Expense Interest Payable Inventory Inventory of Premiums Land Improvements Lawsuit Liability Lawsuit Loss Litigation Expense or Loss Litigation Liability Loss from Expropriation Loss on ARO Settlement No Entry Notes Payable Oil Platform Payroll Tax Expense Plant Assets Premium Expense Premium Liability Purchases Purchase Discounts Purchase Returns and Allowances Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Sales Tax Payable SUTA Taxes Payable Trucks Unearned Sales Revenue Unearned Warranty Revenue Union Dues Payable Warranty Expense Warranty Liability Warranty Revenue Withholding Taxes Payable