Tires USA, a tire manufacturer, guarantees its tires against defects for five years or 60,000 miles, whichever comes first. Suppose Tires USA can expect warranty costs during the five-year period to add up to 4% of sales. Assume that a Tires USA dealer in Denver, Colorado, made sales of $600,000 during 2021. Tires USA received cash for 35% of the sales and took notes receivable for the remainder. Payments to satisfy customer warranty claims totaled $20,900 during 2021. Read the requirements. 1. Record the sales, warranty expense, and warranty payments for Tires USA. (Record debits first, then credits. Exclude explanations from any journal entries.) First, let's record the sale of the tires. Journal Entry Accounts Debit Credit Cash Notes Receivable Sales Revenue Now, let's accrue the warranty expense. Sales Revenue Now, let's accrue the warranty expense. Journal Entry Accounts Debit Credit Warranty Expense Accrued Warranty Payable Next, we will record the payment of warranty expenses. Journal Entry Accounts Debit Credit Read the requirements Journal Entry Accounts Debit Credit Cash 2. Poat to the Accrued Warranty Payable Taccount. The beginning balance was $13,000. Al we end of 2001, how much in accrued warranty palable soon Tires USA owe to its customers ? Select the appropriate descriptions, and enter the beginning balance and post the entries to the Accrued Warranty Payable T-account Calculate the balance of the ability account Accrued Warranty Payable At the end of 2021, Ti USA owes to its customers from Accrued Warranty Payable Time Roma