Cullumber Company sold 18,500 Super Spreaders on July 1, 2020, at a total price of $1,850,000, with a warranty guarantee that the product was free of any defects. The cost of the spreaders sold is $440,000. The assurance warranties extend for a two-year period and are estimated to cost $37,500. Cullumber also sold extended warranties (service-type warranties) related to 2.500 spreaders for two years beyond the two-year period for $8,500. Prepare the journal entries that Cullumber should make in 2020 related to the sale and the related warranties. (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 for the amounts.) Date Account Titles and Explanation Debit Credit July 1, 2020 (To record cash sale) July 1, 2020 (To record the cost of goods sold)