Trekster guarantees its snowmobiles for three years. Company experience indicates that warranty costs will be approximately 5% of sales. Assume that the Trekster dealer in Colorado Springs made sales totaling $400,000 during 2024. The company received cash for 40% of the sales and notes receivable for the remainder. Warranty payments totaled $18,000 during 2024. Read the requirements Requirement 1. Record the sales, warranty expense, and warranty payments for the company. Ignore cost of goods sold. (Record debits first, then credits. Sel the explanation on the last line of the journal entry table.) Begin with the entry to record the sales. (Prepare a single compound entry for this transaction.) Date Accounts and Explanation Debit Credit 2024 Cash Notes Receivable Sales Revenue To record sales for 2024 Record the warranty expense. Date Debit Credit 2024 Accounts and Explanation Warranty Expense Estimated Warranty Payable Warranty payments Record the warranty payments for the company. Date Debit Credit 2024 Accounts and Explanation Estimated Warranty Payable Cash To accrue warranty payable Requirement 2. Assume the Estimated Warranty Payable is $0 on January 1, 2024. Post the 2024 transactions to the Estimated Warranty Payable T-accoun end of 2024, how much in Estimated Warranty Payable does the company owe? Use the T-account to determine the ending balance for the Estimated Warranty Payable account. Use a "Beg. Bal" posting reference to show the beginningt of the account and an "End. Bal.* posting reference to show the ending balance of the account. (Enter a *o* for any zero amounts.) Estimated Warranty Payable Beg. Bal. Payments Sales End, Bal