Woodmler Lawn Products Introduced a new line of commercial sprinklers in 2020 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 4% of sales Sales of the sprinklers in 2020 were $3,050,000. Accordingly, the following entries relating to the contingency for warranty costs were recorded during the first year of selling the product: 122,000 122,000 Accrued liability and expense Warranty expense (4* * $3,050,000) Warranty liability Actual expenditures (summary entry) Warranty liability Cash (or salaries payable, parts and supplies, etc.) 56,129 56,120 in late 2021, the compan claims experience w evaluated and it was determined that claims were far more than expected-5% of sales rather than 4%. Required: 1. Assuming sales of the sprinklers in 2021 were $4150,000 and warranty expenditures in 2021 totaled $104,500, prepare any journal entries related to the warranty 2. Assuming sales of the sprinklers were discontinued after 2020, prepare any journal entries in 2021 related to the warranty