I need help on journal entry #2

Carnes Electronics sells consumer electronics that carry a 90-day manufacturer's warranty. At the time of purchase, customers are offered the opportunity to also buy a two-year extended warranty for an additional charge. During the year, Carnes received $448,0 for these extended warranties, and on average the warranties were 20% expired by year end. Required: 1-a. Does this situation represent a loss contingency? 1-b. How should it be accounted for? 2. Prepare journal entries that summarize sales of the extended warranties and recognition of any revenue associated with those warranties. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare journal entries that summarize sales of the extended warranties and recognition of any revenue associated with those warranties. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field