Crane Company began selling game consoles on November 1, 2021. The company offers a 75-day warranty for defective merchandise. Based on past experience with other similar products, Crane estimates that 2.70% of the units sold will become defective in the warranty period, and that the average cost of replacing or repairing a defective unit is $24. In November, Crane sold 32,000 units and 490 defective units were returned. In December, Crane sold 36,000 units and 670 defective units were returned. The actual cost of replacing the defective units was $27.840. Prepare a journal entry to accrue for the estimated warranty costs for the November and December sales at December 31, 2021. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Warranty Expense Warranty Liability (To accrue warranty expense.) eTextbook and Media List of Accounts