This window shows your responses and what was marked correct and incorrect from your prev Sellers Computer is a leader in the computer industry with over $59 billion in sales each year. A recent annual report for contained the following note: Warranty We record warranty liabilities at the time of sale for the estimated costs that may be incurred under our limited warranty. Fa affect our warranty liability include the number of installed units currently under warranty, historical and anticipated rates of claims on those units, and cost per claim to satisfy our warranty obligation Required: 1. Assume that estimated warranty costs for the current year are $501.0 million and that $415,1 million of warranty work was during the year. Provide the journal entries required to recognize warranty expense and the warranty services provided duri year. Assume that all warranty services were paid for with cash. (If no entry is required for a transaction/event, select "No jo entry required" in the first account field. Enter your answers in whole dollar not in millions (i.e., 1,000,000 not 1.0).) sed No Date General Journal Debit Credit 1 Dec 31 501,000,000 501.000.000 Warranty expense Warranty payable Warranty payable Cash 415,100,000 415,100,000 2 Dec 31 X 8