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Mike Bikes und offers warranty for the sale of its products. On 1 January 2019, there was a credit balance of $50,000 in its warranty provision account. On 30 November 2019 Mike Bikes Ltd replaced goods unde warranty at a cost of 544,000 using goods from its own inventory. At 31 December 2019 Mike Bikes Ltd estimated its ability for unexpired warranty contracts as $55.000 Required a) Prepare a journal entry to record the warranty claims on 30 November 2019. Narrations are not required. (1 mark) b) Prepare a journal entry at the year end 31 December 2019 to record the end-of-period adjustment to the Warranty Provision account. Narrations are not required. (2 martes) 1 B 1 a) Date Account Titles Debit Credit I bl Date Account Titles Debit Credit Ne page Students General Star BE E