please provide the correct answer On January 1,2022 , Wildhorse Company began a...
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On January 1,2022 , Wildhorse Company began a warranty program to stimulate sales. It is estimated that 5% of the units sold will be returned for repair at an estimated cost of $38 per unit. Sales warranty figures for the three years ended December 31 are as follows: Calculate the warranty expense for each year and warranty liability at the end of each year. Record the warranty transactions for each year. Credit Repair Parts Inventory for the actual warranty costs. (Credit account titles are automatically indented when the amo manually. If no entry is required, select "Wo Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List debit entry be (To accrue warranty expense.) (To record honouring warranty contracts.) (To accrue warranty expense.) To date, what percentage of the units sold have been returned for repair under warranty? What has been the average actual warranty cost per unit for the three-year period? (Round percentage returned and average warranty cost per unit to 2 decimal places, e.g. 52.76% or 52.76 .) Percentage of units returned for repair Average actual warranty cost per unit
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