Blossom 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, Blossom estimates that 2.20% 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, Blossom sold 38,000 units and 510 defective units were returned. In December, Blossom sold 57,000 units and 500 defective units were returned. The actual cost of replacing the defective units was $16,160. Prepare one summary journal entry at December 31, 2024, to record the cost of replacing the defective game consoles returned during November and December