service-Type Warranty (14 points) McCloskey Corporation sells merchandise for $10,000 cash on January 1, 2020, but also sells extended selling price of the merchandise is $10,000 and the stand-alone selling price of the extended warranties is S50 per warranty. MeCloskey sold 10 extended warranties on January 1, 2020, and incurred costs of $200 related to servicing the warranties in 2020. Required: a. Record the sale of warranties and merchandise January 1, 2020, ignoring the cost entry for the merchandise. - Record the male of warranties word voorstwy 1.030, cm*** ***** b. Record the expenditures for actual warranty costs of $200 in 2020 c. Record the recognition of warranty revenue on a straight-line basis on December 31, 2020