SST Jetski Corp. has sold motorized watercraft for a number of years. SST includes a three$-$year warranty on each watercraft they sell. Management estimates that the cost of providing the warranty coverage is $1\%$ of sales in the first year and $2\%$ of sales in each of years two and three. Other facts follow: $$ SST reported a $$260,000$ provision for warranty payable on its balance sheet at December $31,2020.$ SST$$s sales for $2021$ totalled $$4,800,000$ spread evenly throughout the year. $$ The cost to SST of meeting their warranty claims in $2021$ was $$240,000$: $$150,000$ for parts and $$90,000$ for labour. $$ SST$$s sales for $2022$ totalled $$5,400,000$ spread evenly throughout the year. $$ The cost to SST of meeting their warranty claims in $2022$ was $$300,000$: $$180,000$ for parts and $$120,000$ for labour. Based on recent claims history, SST revises their $2022$ warranty provision to $7\%$ of sales. Required: a$.$ Prepare summary journal entries to record warranty expense and warranty claims in $2021$ and $2022.$ b$.$ Determine the provision for warranty payable that SST will report as a liability on December $31,2022.$