Twyla Enterprises sells a piece of equipment with a 3-year warranty contract that requires the corporation to replace defective parts and to provide the necessary repair labor. During 2020, the corporation sells for cash 350 machines at a unit price of $16,000. On the basis of past experience, the 3-year warranty costs are estimated to average 2% of sales. (For simplicity, assume that all sales occurred on December 31, 2020). The 3-year warranty is included in the price of the machine 1) Prepare the journal entrylies) that Twyla should make on December 31, 2020 to record their machine sales and account for the warranty: 2) If the actual warranty costs in 2021 were $35,000, prepare the journal entry to record the cost of servicing the warranties (make JE dated 12/31/21): 3) If an additional 410 computers were sold in 2021, what would be the amount of the Warranty Payable reported on Twyla's balance sheet as of 12/31/21? 4) Assume the corporation also offers an extended warranty for an additional year beyond the 3-year contract for $250. a) What is this type of warranty called? b) What account is CREDITED at the date of sale for this warranty