Sweet Corporation sells computers under a 2-year warranty contract that requires the corporation to replace defective parts and to provide the necessary repair labor.

1) Account Title and Explanation Cash Warranty Expenses Sales Revenue Warranty Liability Debit Credit 929200 137360 929200 137360 2) Balance Sheet (Partial) December 31, 2017 Current Liabilities Warranty Liability Long Term Liabilities Warranty Liability 3) Account Title and Explanation Warranty Liability Inventory Salaries and Wages Payable 68680 68680 Debit Credit 63160 19600 43560 \f1) Account Title and Explanation Cash Warranty Expenses Sales Revenue Warranty Liability Debit Credit 929200 137360 929200 137360 2) Balance Sheet (Partial) December 31, 2017 Current Liabilities Warranty Liability Long Term Liabilities Warranty Liability 3) Account Title and Explanation Warranty Liability Inventory Salaries and Wages Payable 68680 68680 Debit Credit 63160 19600 43560