Homepage - Purdu... AC116 Unit 4 Lab Assignment Question 7 of 12 < > View Policies Show Attempt History Current Attempt in Progress 0.67/4 E Waterway Company sells automatic can openers under a 75-day warranty for defective merchandise. Based on past experience, Waterway estimates that 4% of the units sold will become defective during the warranty period. Management estimates that the average cost of replacing or repairing a defective unit is $15. The units sold and units defective that occurred during the last 2 months of 2022 are as follows. Month Units Sold Units Defective Prior to December 31 November 33,600 672 December 35,600 445 (a) 144 e510458fab7b-/question/6 Webpage | A... Wordtune Editor Free APA Citation G... Homepage - Purdu... AC116 Unit 4 Lab Assignment Question 7 of 12 < > Tuy 0.67/4 -Your answer is partially correct. Prepare the journal entry to record the costs incurred in honoring 1,117 warranty claims. (Assume actual costs of $16,755.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Warranty Expense Warranty Liability eTextbook and Media List of Accounts Debit 41,520 Credit 41.520 914 16 Unit 4 Lab Assignment Question 7 of 12 < (b) 0.67/4 E Prepare the journal entry to record the warranty liability at December 31 for the units sold in November and December. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 5 used Submit Answer Webpage | A... Wordtune Editor Free APA Citation G... AC116 Unit 4 Lab Assignment Question 7 of 12 < > (c) stion/b Homepage - Purdu... 0.67/4 Give the entry to record the honoring of 500 warranty contracts in January at an average cost of $15. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 5 used Submit Answer QE