Chapter 13 Open-Ended Assignment Note: Please put your answers only in the section below the Bold Red sentence at the end of the Required section below. Liefer Company sells refrigerators with an embedded 3-year warranty. During 2022, Liefer sold 20,000 refrigerators of which, 4 percent are estimated to need some sort of repair under the warranty period. The best estimate is that each repair will average $50. No warranty repairs were made in 2022 for these sales. At the end of 2023, repairs under warranty totaled S16,000 and an analysis revealed that Liefer may need to spend $25,000 for repairs in the coming year under the warranty Required: A. Record warranty expense in 2022. B. Record the repairs performed in 2023. C. Record the journal entry necessary to report the correct balance in warranty payable at the end of 2023. Your answers to this open-ended assignment should be placed in the space below this line. A Date Account Name Debit Credit 2022 B Account Name Debit Credit Date 2023 Account Name Debit Credit Date Dec. 31, 2023