Complete answer please

er 29, Lobo Co. began operations by purchasing razors for resale. The razors have a 90-day warranty. When a turned, the company discards it and mails a new one from Merchandise Inventory to the customer. The cost per new razor is $14 and its retail selling price is $70. The company expects warranty costs to equal 5% of s. The following transactions occurred. 1d 80 razors for $5,60 cash. cognized warranty expense related to November sales with an adjusting entry. placed 16 razors that were returned under the warranty. ld 240 razors for $16,800 cash. placed 32 razors that were returned under the warranty. cognized warranty expense related to December sales with an adjusting entry. Id 160 razors for $11,280 cash. placed 37 razors that were returned under the warranty. cognized warranty expense related to January sales with an adjusting entry. I entries to record above transactions and adjustments. en list entry worksheet 2 3 4 5 6 7 8 12 > sales revenue of 80 razors for $5,600 cash. bits before credits. General Joumal Debit Credit 2. How much warranty expense is reported for November and December? Warranty expense for November Warranty expense for December 3. How much warranty expense is reported for January? Warranty expense 4. What is the balance of the Estimated Warranty Liability account as of December 31? Estimated warranty liability balance 5. What is the balance of the Estimated Warranty Liability account as of January 31? Estimated warranty liability balance