Try another version of this question Catskills Connectors sell industrial equipment to an array of business and suppliers. Catskills Connectors provides a guarantee on its equipment for 3 years. Company experience indicates that 8% of sales will require warranty service. An Albany area dealer made sales during 2020 totaling $729,000. The company received cash for 11% of the sales and notes receivable for the remainder. Warranty payments for 2020 totaled $33,000, of which wages accounted for 79% of the costs and supplies for the remainder. 1. Record the sales, warranty expense, and warranty payments for the company. Ignore cost of goods sold. 2. Post to the Estimated Warranty Payable T account. At the end of 2020, how much in Estimated Warranty Payable does the company owe? Assume the Estimated Warranty Payable is $1,900 on January 1, 2020. Date Description Debit Credit Debit Credit Double line Double line Date Description Debit Credit Cash 80,190 Notes Receivable 648,810 Sales Revenue 729,000 Warranty Expense 58,320 Est. Warranty Payable 58,320 Est. Warranty Payable 33,000 Wages Payable 26,070 Supplies 6,930 Debit Credit 33,000 1,900 58,320 Double line Double line27,220