UL W e n cial Account Statistics Sharing Link Valida... Test 3 Saved Help Save & Exit Submit Required information (The following information applies to the questions displayed below.) Part 1 of 2 A company restores and resells notebook computers. It originally acquires the notebook computers from corporations upgrading their computer systems, and it backs each notebook it sells with a 90-day warranty against defects. Based on previous experience, the company expects warranty costs to be approximately 4% of sales. Sales for the month of December are $430,000. Actual warranty expenditures in January of the following year were $14,500. 8 points 8 02:29:37 2. & 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) - View transaction list Journal entry worksheet Record the contingent liability for warranties. Prev 1 2 of 12 Next > $ Journal entry worksheet of 2 Record the contingent liability for warranties. Note: Enter debits before credits. 28:37 Transaction General Journal Debit Credit Record entry Clear entry View general journal Prev 1 2 of 12 3 Next >