Woodmier Lawn Products introduced a new line of commercial sprinklers in 2023 that carry a one-year warranty against manufacturer's defects. Because this was the first product for which the company offered a warranty, trade publications were consulted to determine the experience of others in the industry. Based on that experience, warranty costs were expected to approximate 2% of sales. Sales of the sprinklers in 2023 were $4.2 million. Accordingly, the following entries relating to the contingency for warranty costs were recorded during the first year of selling the product: In late 2024, the company's claims experience was evaluated and it was determined that claims were far more than expected-3\% of sales rather than 2% Required: 1. Assuming sales of the sprinklers in 2024 were $5,3 milion and warranty expenditures in 2024 totaled $105,000, prepare any. Journal entries related to the warranty. 2. Assuming sales of the sprinklers were discontinued after 2023, prepare any journal entry(s) in 2024 reiated to the warranty: Complete this question by entering your answers in the tabs below. Assuming sales of the sprinkers in 2024 were $5.3 million and warranty expenditures in 2024 totaled $105,000, prepare any journal entries celated to the warranty. Note: If no entry is required for a transactionvevent, select "No joutnat entry required" in the first account field, Enter your answers in