Required information Exercise 8-15A Record warranties over two years (LO8-5) [The following information applies to the questions displayed below) Lindy Appliance begins operations in 2021 and offers a one-year warranty on all products sold. Total appliance sales in 2021 are $1,600,000, and Lindy estimates future warranty costs in 2022 to be 2% of current sales. Actual warranty costs in 2022 are $25,000. Also in 2022, Lindy has additional sales of $2,400,000 and revises its estimate of warranty costs associated with sales in 2022 to be 15%, Exercise 8-15A Parts 1, 2 & 3 Required: 1-3. Record the necessary entries in the Journal Entry Worksheet below (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) AN LICY WENU 1 2 3 Record the contingent liability for warranties for the year ending December 31, 2021. Note: Enter debits before credits. Account Title Debit Credit Date December 31, 2021 Record entry Clear entry View general journal NE Required information UMELECKY WEL 1 N 3 Record the actual warranty expenditures, assuming all costs were paid in cash. Note: Enter debits before credits. Date Account Title Debit Credit December 31, 2022 Record entry Clear entry View general journal S Neyt Required information ENON vum CY