Time left 1:13:01 Vancouver Vespa Co (WC) sells scooters for $20,000 each. A complete 3 year warranty covering parts and labor is included in the price. On January 2 2021. WC sold 80 scooters and the company estimates that warranty repair costs on these scooters will amount to 15% of sales revenue Customers also have the choice to buy an additional 2 years of warranty coverage for $1.000. 60% of the customers who bought the scooters chose the extra warranty coverage The company estimates that 30% of scooters covered by the extended warranty will need repales costing an average of $500 for parts and 3700 for labor. Repairs made under the extended warranty would occur evenly over the years 2024 and 2025. in 2021 wc per a total of $22.000 for parts and $33,000 for labor to repair scooters under warranty. In 2024, the company spent $17.000 for parts and $18,000 for labor to repair broken scooters sold under the extended warranty REQUIRED. A. Using the above data, prepare all journal entries for 2021 AND 2024 for VCC. B. Show the proper Balance Sheet presentation on December 31, 2021, for all the warranty-related accounts. C. In 2022. VCC discovered that the actual warranty repair costs are far greater than the original estimated repair costs of 10% of sales. Briefly explain what the proper accounting treatment would be