Current Attempt in Progress In 2024, Sage Hill Company introduces a new product that includes a two-year warranty on parts. During 2024, 3,900 units are sold for $400 each. The cost of each unit was $150. The company estimates that 8% of the units will be defective and that the average warranty cost will be $60 per unit. The company has a December 31 fiscal year end and prepares adjusting entries on an annual basis. Prepare an adjusting entry at December 31, 2024, to accrue the estimated warranty cost. (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. List debit entry before credit entry.) Date Account Titles Dec. 31 1 I Debit Credit

In 2024, Sage Hill Company introduces a new product that includes a two-year warranty on parts. During 2024, 3.900 units are sold for $400 each. The cost of each unit was $150. The company estimates that 8% of the units will be defective and that the average warranty cost will be $60 per unit. The company has a Decernber 31 fiscal year end and prepares adjusting entries on an annusi basis. Prepare an adjusting entry at December 31,2024 , to accrue the estimated warranty cost. (Credit account tities are automatically indented when the amount is entered. Do not indent monually. if no entry is required, select "No Entry" for the occount tities and enter O for the omounts List debit entry before credit entry)