Tableau DA 9-2: Exercise, Warranty expense and liability computations and entries LO P4 We are hired as consultants to assist Arctica Co. in accounting for its warranty expenses. Arctica offers a one-year warranty covering parts on each snowmoble it sells. The following Tableau Dashboard is provided to assist us. Estimated Warranty Expense vs. Actual Warranty Claims $25,000 $20,000 Actual Warranty Claims Estimated Warranty Expense $15,000 $10,000 $5,000 4 Years Ago 3 Years Ago 2 Years Ago 1 Year Ago Prav 709 Nov Percentage by Model Puma Jag ynx Puma Lynx + ableau Jag 1. How much total estimated warranty expense does Arctica report for the current year? 2. Record the adjusting entry at year-end of the current year to recognize warranty expense. 3. A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $70 Record the journal entry for this repair. Tableau DA 9-2: Exercise, Warranty expense and liability computations and entries LO P4 We are hired as consultants to assist Arctica Co. in accounting for its warranty expenses. Arctica offers a one-year warranty covering parts on each snowmoble it sells. The following Tableau Dashboard is provided to assist us. Estimated Warranty Expense vs. Actual Warranty Claims $25,000 $20,000 Actual Warranty Claims Estimated Warranty Expense $15,000 $10,000 $5,000 4 Years Ago 3 Years Ago 2 Years Ago 1 Year Ago Prav 709 Nov Percentage by Model Puma Jag ynx Puma Lynx + ableau Jag 1. How much total estimated warranty expense does Arctica report for the current year? 2. Record the adjusting entry at year-end of the current year to recognize warranty expense. 3. A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $70 Record the journal entry for this repair