Problem 13-10 Tamarisk Inc. sells portable computer equipment with a two-year warranty contract that requires the corporation to replace defective parts and provide the necessary repair labour During 2017, the corporation sells for cash 383 computers at a unit price of $2,500. Based on experience, the two-year warranty costs are estimated to be $168 for parts and $172 for labour per unit. (For simplicity, assume that all sales occurred on December 31, 2017.) The warranty is not sold separately from the equipment, and no portion of the sales price is allocated to warranty sales. Tamarisk follows ASPE. Record the 2017 journal entry, assuming the cash basis is used to account for the warranties. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Record the 2017 journal entries, assuming the accrual basis assurance-type approach is used to account for the warranties. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (To record sales) To accrue outstanding warranty) What liability relative to these transactions would appear on the December 31, 2017 balance sheet? How would it be classified if the accrual basis assurance-type approach is used? Tamarisk Inc. Balance Sheet (Partial) Assume that in 2018 the actual warranty costs incurred by Tamarisk were $23,408 for parts and $41,545 for labour Record the necessary entry in 2018, applying the cash basis. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Assume that in 2018 the actual warranty costs incurred by Tamarisk were $23,408 for parts and $41,545 for labour Record the necessary entries in 2018, applying the accrual basis assurance-type approach. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Account Titles and Explanation Debit Credit