CREMA Desinsements Exercise 11-05a-c Concord Company sells automatic can openers under a 75-day warranty for defective merchandise. Based on past experience, Concord estimates that of the units sold will become detective during the war defective unit is $20. The units sold and units defective that occurred during the last 2 months of 2020 are as follows Month Units Sold Units Defective Prior to December 31 November 34,000 680 December 36,000 450 Prepare the journal entry to record the costs incurred in honoring 1,130 warranty dams (Assume actual costs of $22.600.) (Credit account titles are automatically indented when amour is entered. D. Account Titles and Explanation Credit Debit (To record honoring of warranty contracts.) SNOW LIST OP ACCOUNTS LINK TO TE Prepare the journal entry to record the warranty liability at December 31 for the units sold in November and December. (Credit accountities are automatically indented when amounts entered. Do not Account Titles and Explanation Debut Credit HOW LIST OF ACCOUNTS LINK TO TEXT Give the entry to record the hononing of 500 warranty contracts in January at an average cost of $20. (Credit account titles are automatically indented whe amounts entered. Do not indent manually Account Titles and Explanation Debat Credit Click if you would like to show Work for this question: Den Work W LIST OF ACCOUNT . e here to search CALCULATOR PRINTER VERSION NEX defective merchandise. Based on past experience, Concord estimates that 3% of the units sold will become defective during the warranty period. Management estimates that the average cost of replacing or repanga the last 2 months of 2020 are as follows. anty dams. Assume actual costs of $22,600.) (Credit account titles are automatically indented when amount is entered. Do not inden manually.) Credit for the units sold in November and December. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Credit mary at an average cost of $20. (Credit account titles are automatically indented when amount is entired. Do not identmany) Creda A 239 PM 7/6/2020 E59