Answer:
1)
to record sales during 2021
Dr Accounts receivable 93,510
Cr Sales revenue 90,000
Cr Sales tax payable 3,510
to record warranty liability during 2021
Dr Warranty expense 960
Cr Warranty liability 960
warranty expense = 300 units x 8% x $40 = $960
to record incurred warranty expenditures
Dr Warranty liability 400
Cr Inventory/wages payable 400
2)
to record sales during 2022
Dr Accounts receivable 124,680
Cr Sales revenue 120,000
Cr Sales tax payable 4,680
to record warranty liability during 2021
Dr Warranty expense 1,280
Cr Warranty liability 1,280
warranty expense = 400 units x 8% x $40 = $1,280
to record incurred warranty expenditures
Dr Warranty liability 600
Cr Inventory/wages payable 600