ELC Inc. sells all types of electronics with a one-year warranty for product assurance on all products sold. On 26 February, a customer came into the store and purchased a television for $1,700. The company estimates, from past experience, that warranty costs will be $240 for this product. Required: Prepare the journal entries that ELC would use to record this transaction. (If no entry is required for a transaction/event, select "No ournal entry required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits