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Required information (The following information applies to the questions displayed below) Hitzu Company sold a copier (that costs $4,500 ) for $9,000 cash with a two-year parts warranty to a customer on August 16 of Year 1. Hitzu expects warranty costs to be 3% of dollar sales. It records warranty expense with an adjusting entry on December 31. On January 5 of Year 2, the copier requires on-site repairs that are completed the same day. The repairs cost $121 for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier. 1. How much warranty expense does the company report for this copier in Year 1 ? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1 ? 3. How much is the estimated warranty liability for this copier as of December 31 of Year 2 ? 4. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1 ; and (c) the repairs that occur on January 5 of Year 2. Complete this question by entering your answers in the tabs below. 1. How much warranty expense does the company report for this copier in Year 1 ? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1 ? 3. How much is the estimated warranty liability for this copier as of December 31 of Year 2? Prepare joumal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1 ; and (c) the repairs that occur on January 5 of Year 2 . Journal entry worksheet Record the sale of a copier for $9,000 cash. Notes Enter debits before credits Complete this question by entering your answers in the tabs below. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Yea and (c) the repairs that occur on January 5 of Year 2. Journal entry worksheet Record the cost of goods sold of $4,500. Note: Enter debits before credits. repare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1 ; nd (c) the repairs that occur on January 5 of Year 2 . Journal entry worksheet Record the estimated warranty expense at 3% of the sales. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1 ; and (c) the repairs that occur on January 5 of Year 2 . Journal entry worksheet Record the cost of repairs that occur on January 5 of Year 2. Note: Enter debits before credits

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