The accounting records of Soupled Cycle included the following at January 1, 2020: Estimated Warranty Payable January 1, 2000 29.000 In the past, Sopted Cycle's warranty expense has been 3 percent of sales. During 2020, Soupled Cycle made sales of $1,000,000 and paid $32,000 to satisfy warranty claims Required 1. Record Soupled Cydle's warranty expense and warranty payments during 2020. Explanations are not required 2 What balance of imated Warranty Payable wil soupled Cyde report on its balance sheet at December 31, 20207 Requirement 1. Record Sculpted Cyde's warranty expense and warranty payments during 2020. Explanations are not required Journalize the warranty expense (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Crede Journal the warranty payments Journal Entry Date Accounts Debit Credit Reouirement 2. What balance of Estimated Warranty Pavable wil Soulted Cycle toort on its balance sheet at December 31, 20207 Choose from any list or enter any number in the input fields and then continue to the next