$$USA$,$ a tire$$ manufacturer, guarantees its tires against defects for five years or$60,000$ miles, whichever comes first. Suppose GladiatorGladiator USA can expect warranty costs during the$$ five$-$year period to add up to $4\%4\%$ of sales. Assume that a GladiatorGladiator USA dealer in$$ Denver, Colorado, made sales of $ $473$ comma $000$$$473,000$ during $20212021.$ GladiatorGladiator USA received cash for $2020\%$ of the sales and took notes receivable for the remainder. Payments to satisfy customer warranty claims totaled $ $18$ comma $800$$$18,800$ during $20212021.$

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Part $1$

$1.$ Record the$$ sales, warranty$$ expense, and warranty payments for GladiatorGladiator 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

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Requirements

$1.$

Record the$$ sales, warranty$$ expense, and warranty payments for GladiatorGladiator USA. Ignore cost of goods sold.

$2.$

Post to the Accrued Warranty Payable$$ T$-$account. The beginning balance was $ $11$ comma $000$$$11,000.$ At the end of $20212021,$ how much in accrued warranty payable does GladiatorGladiator USA owe to its$$ customers?