1.)

Hello i need help on this question as i dont know what to put for part B even tho i have tried repair inventory and Cash but those were saying it was incorrect

Ivanhoe Inc. began selling game consoles on November 1, 2024. The company offers a 60-day warranty for defective merchandise. Based on past experience with other similar products, Ivanhoe estimates that 2.50% of the units sold will become defective in the warranty period, and that the average cost of replacing or repairing a defective unit is $20. In November, Ivanhoe sold 42,000 units and 510 defective units were returned. In December, Ivanhoe sold 35,000 units and 780 defective units were returned. The actual cost of replacing the defective units was $20,640. (a) Your answer is correct. Prepare a journal entry to accrue for the estimated warranty costs for the November and December sales at December 31,2024. (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. List debit entry before credit entry.) Your answer is partially correct. Prepare one summary journal entry at December 31, 2024, to record the cost of replacing the defective game consoles returned during November and December. (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. List debit entry before credit entry.)