The Chair Company provides a 120-day parts-and-labor warranty on all merchandise it sells. The Chair Company estimates the warranty expense for the current period to be $1,160. During this period, a customer returned a product that cost $870 to repair. Required a. Show the effects of these transactions on the financial statements using a horizontal statements model. Use "+" for increase or "-" for decrease. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), financing activity (FA), or leave blank for no effect. b. \& c. Prepare the journal entries to record the warranty expense for the period and payment for the actual repair costs. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the warranty expense for the period and payment for the actual repair costs. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Prepare the journal entries to record the warranty expense for the period and payment for the actual repair costs. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the payment for the actual repairs cost. Note: Enter debits before credits. The Chair Company provides a 120-day parts-and-labor warranty on all merchandise it sells. The Chair Company estimates the warranty expense for the current period to be $1,160. During this period, a customer returned a product that cost $870 to repair. Required a. Show the effects of these transactions on the financial statements using a horizontal statements model. Use "+" for increase or "-" for decrease. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), financing activity (FA), or leave blank for no effect. b. \& c. Prepare the journal entries to record the warranty expense for the period and payment for the actual repair costs. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the warranty expense for the period and payment for the actual repair costs. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Prepare the journal entries to record the warranty expense for the period and payment for the actual repair costs. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the payment for the actual repairs cost. Note: Enter debits before credits